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Random article: Forex regulation in Europe

MiFID (Markets in Financial Instruments Directive) set common market of financial services and unified standards for activity of investment companies in the European Union. This law is the part of EU plan aimed to create a common European market of financial services. Directive includes measures purposed to change and improve arrangement and operation of investment companies. Apart from requirements for transparency of transactions with securities, this paper expands range of instruments requiring authorization as well as provides investment companies with an opportunity to set branches in other countries of the European Union when license from national regulator is acquired.

A number of reversal patterns is indicated in Forex: Head and Shoulders, Double top, Double bottom, Triple top, Triple bottom, Diamond. Head and Shoulders Top – is a classical reversal pattern of technical analysis, which is formed following to a long upward trend. The model is considered to be fair reliable and is often formed. But despite above-mentioned, many beginning traders do not manage to take profit using this graphic pattern. The reason is that positions are opened prior to forming this model. Let's figure out the structure of the figure and its formation on the chart of trading terminal. The model consists from three subsequent price extreme points, the middle one is higher than others (head), and the rest two are below the middle one and are roughly equal (shoulders). All three uphills are supported by the neck line.

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