Market Pattern Forecast Tutorial
Day Trading System: General Overview
The aim of this tutorial is to make you aware of the power of Market Pattern
Forecast "maps" and how to make the most of them in your day trading system. Once
you understand how they are used you will simply not want to trade
without them, as they will help you identify when to enter a position
and when to take profits.
Market Pattern Forecast Maps are made available to you on the part of the site
which requires a login and a password. Market Pattern Forecast Maps for
the various markets are usually made available to you by 7am GMT, which
is an hour before the open of the cash indices in Europe.
Market Pattern Forecast Maps are provided in a chart form such
as the one you are seeing below. The chart below is the forecast for the DAX 30 cash
index from Germany.
On the Map of the Dax 30 index above you can see the forecast path of this
particular index for the trading day ahead.
You can also see the time underneath the chart. The timeframe is displayed
in London GMT (Greenwich Mean Time). Like all the indices Maps, the Dax
map will start when the cash index opens in the morning. A full
schedule of opening and closing times for the different Market Maps are
provided here.
You can also see a price bar to the right. It is only displayed for this
example: Market Pattern Forecast Maps do not provide forecasts of price,
only on times of turns. Maps in the subscriber section do NOT
have any price scale.
The second chart shows what actually happened in the Dax on this particular
trading day, the 30th April 2007. You will recognize the blue line as
the Market Pattern Forecast Map which has now been overlaid onto the actual
price action on the day, which is the red line.
You can see how the Market Pattern Forecast map in the form of the blue line
has identified the big turning points during the day in advance and
given the trader a forecast for the direction of the day.
The following pages will teach you the use of Market Pattern Forecast.
Every day does not have to be a perfect fit for you to make use of
the Market Pattern Forecast, as many traders who use them can testify.
For example there can be Market Pattern Forecast maps where the price action is inverted
or where a turn may be slightly delayed. This will be explained
thoroughly in the tutorial.
The next tutorial is Day Trading System: Perfect Pattern.
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