#3a: Two Matching Highs Pattern:
- How Do You spot 2 Matching Highs chart pattern?: Well, you look for 2 bars that have highs that are almost on the same price level or within 2 pips of each other
- Two Matching highs pattern is considered a bullish forex chart pattern so you should be looking for this chart pattern in an uptrend market.
- How do you trade the two matching highs pattern: you have two options… first is to buy at market order as soon as 2nd bar closes or the second option is to place a pending buy stop order 2-3 pips above the high of the 2nd candlestick.
- For your stop loss, place it 2-5 pips below the low of the 2nd candlestick in the pattern.
See chart below for what Two Matching Highs Chart Pattern Looks Like:
#3b: Two Matching Lows Forex Chart Pattern
- How do you spot two Matching Lows Forex Chart Pattern? Well, you should Look for 2 bars that have lows that are almost on the same price level or within 2 pips of each other
- The Two Maching Lows Pattern is considered a bearish forex chart pattern which means you should be looking for this chart pattern in a downtrend market.
- How do you trade the two maching lows pattern? Again, you have two options: you can sell at market order as soon as 2nd bar closes or place a pending sell stop order just 2-5 pips below the low of the 2nd candlestick.
- For your stop loss, place it 2-5 pips above the high of the 2nd candlestick in the pattern.
See chart below of what two consecutive matching lows chart pattern looks like:
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