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get forex trading signals by Horn Tops 67

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    get forex trading signals by Horn Tops

    Horn Tops
    Appearance Two upward price spikes separated by a week on the weekly chart
    Weekly chart, upward spikes
    Use the weekly chart and locate two upward price spikes separated by a week. The two spikes should be longer than similar spikes
    over the prior year and tower above the high of the center week. It
    should look like a horn.
    Clear visibility The horn highs should be well above the surrounding highs and the best performing reversals appear at the end of a long uptrend.
    Confirmation The pattern becomes a valid horn top when price closes below the lowest low in the pattern. Do not trade forex signals without confirmation.
    Measure rule
    Subtract the lowest low from the highest high to get the pattern
    height. Subtract the height from the lowest low to get the forex signals target price.
    Threat assessment
    Look for an uptrend spanning many months. Such uptrends often show horns near the end of the trend. If the horn top
    appears near the end of a long downtrend, then it is best to
    avoid it. Watch out for horns appearing after a downward trend
    when the trend changes and price starts moving higher. Prices
    may decline but the decline is usually short-lived (as in the rise between a double bottom).
    Low volume
    The failure rate declines if below average volume appears on both spikes, in a bull market.
    Trend change
    A horn top usually signals an approaching trend change, usually in less than 2 months.

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