These High Probability Reversal Patterns can get you into a trend much earlier than most of the other pro traders and institutional investors. Big money is often made in the forex market on the major trend reversals. If you can learn the skill of spotting the trend reversals much earlier than other pro traders, you are on your way to making your fortune in the forex market. These powerful Trend Reversal Patterns are specific to forex trading.These reversals patterns are considered to be the leading indicators as compared to most other technical indicators that are lagging in nature.
Meet Chris Lori, a pro trader who loves to trade these high probability trend reversal patterns. Chris is a fund manager and manages huge portfolios. If you are interested in pattern trading or if you are a pattern trader and want to take your trading to next higher level, this is what Chris Lori says: “I ache to see how so many Forex day traders get caught up in momentum systems. If they like indicators, that’s fine, but it is very important to understand range and volatility. Momentum traders “chase price,” while pattern traders hit it head on and usually take first profit before the momentum trader gets their four confirmations before getting in, only to find price pull back and stop them out.” Here’s a List of Reversal Patterns Chris will cover in his High Probability Reversal Patterns Course:
Pattern #1. “Triple B” Reversal – This is one of Chris’ own discoveries. It is a unique formation that occurs following a steady trend. It is a true indication of overbought/oversold, because it is distinctly reflected in PRICE ACTION (not an indicator) and uses Fibonacci applications to find low risk entries
Pattern #2. The “Rip Tide” Reversal – One of his favorites, because it can pay quickly, Chris and his former fund manager partner discovered this one trading GBP. It considers specific previous dealing points and Fibs while combining daily range and volatility to pick the entries.
Pattern #3. Head and Shoulders – Now we know everyone in trading knows this one AFTER THE FACT. The key to trading this pattern is to get in at the tip of the right shoulder and take some profit BEFORE the neckline, while keeping some for the follow through. Chris shows you distinct characteristics to look for to find your ideal entry at the height of the right shoulder.
Pattern #4. Lori P38 Reversal – This pattern is found in unique key reversal scenarios and is less common. Following a key reversal move, this pattern gets you into the second leg, which is often a substantial move.
Pattern #5. The Gartley Pattern – This is an age old Fibonacci based pattern that can present itself in many forms. This pattern can seem very complicated or difficult to find, Chris simplifies it and shows you exactly what to look for using key visual aspects involving Fibonacci retracement and extension levels, along with range, in some cases. As there are many variations of this pattern, Chris makes this pattern simple.
Pattern #6. The Butterfly Pattern – Discovered by Larry Pesavento, this is a more advanced high probability false breakout pattern that Chris has added to the course for those who have the interest to diversify their pattern trading opportunities. It is probably one of the most profitable patterns in trading.
Master these High Probability Reversal Patterns by Chris Lori if you want to take your forex trading to the next higher level.