Welcome to The 5%ers forex trading strategy video. This video demonstrates a trading strategy called the Quasimodo Pattern.
Quasimodo is not one of the most popular patterns among forex traders but definitely one of the most reliable and powerful pattern to trade. it’s a reversal pattern that provides a great Risk Reward ratio potential.
The risk reward ratio that this pattern provides in potencial in amazing.
The quasimodo pattern is a reversal pattern, it happens after a signigicent up trend or a significant downtrend.
From the point of the lower low the price rises up and creates a new high which is higher than the last one. That situation indicates that the bearish momentum has ended and the price has entered the bullish momentum area.
The price creates a higher high and makes one sharp movement. That forex pattern is Quasimodo.
When the price creates the higher high, the right level to enter is usualy what we call the left shoulder which is the one before the recent downtrend. it’s like a head and shoulder pattern.
It’s a logical level to buy because it’s a demand level. That situation is a great time to buy.
The stoploss will be below that level, at the last low.
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