TECHNICAL ANALYSIS: PRICE PATTERNS

Traders vote with their pocketbooks. If they believe a currency pair is
going to move higher, they will buy the currency pair. If they believe a
currency pair is going to move lower, they will sell the currency pair.
When their money is on the line, they will do whatever it takes to be
profitable. Oftentimes the actions of these self-interested traders form
price patterns on the chart.
Price patterns are chart formations that provide insight into what forex
traders are thinking and feeling at various price levels. Learning to
recognize various price patterns gives you an advantage over traders
who are only using fundamentals or technical indicators.
Imagine having the ability to precisely identify trade entry points as a
currency pair breaks out and the ability to accurately project how far a
currency pair is going to move once it has broken out and starting
moving. Price patterns give you this ability.