Mississauga, Ontario -- (ReleaseWire) -- 10/02/2012 -- Harmonic Tradingis a form of FOREX trading that aims to recognize patterns in currency prices to probabilistically determine changes in the financial markets. This statistical technical analysis uses patterns to create a prior judgment on the market based on previous repetitions.
In laymen’s terms, the boom and bust cycle comes broadly under this definition. FXGroundworks is the leading market analyst in harmonic Trading patterns and candlestick patterns . It has been the market leader of this method since the community was first established. The online company shows no signs of slowing as their latest developments provide the most in-depth structural ratings system to be found in the world of trading.
Their new structural analysis gives a detailed examination of the Fibonacci patterns, taking into account the candlesticks that surround patterns, or Super Structures; the candlesticks that make up the pattern itself and the designated Internal Structure.
It also shows how these candlesticks are created and when the analysis believes the reversal should occur, according to these theory tests (or Price Action). It provides a risk assessment that looks at the statistical power of the analysis in relation to the likelihood of it coming to pass. Over 1,200 patterns are automatically filtered every day, and members of the site can choose to be alerted to the 20 best patterns scrutinized on a daily basis.
The site hosts regular webinars, publishes an online magazine, and authors precision pattern and filtering tools for traders, together with offering live trading analysis from expert mentors, plus an open resource centre for beginners.
The mentors of the site explained, “This analysis provides a phenomenal method of choosing patterns that should be traded, and eliminating patterns that should not be traded. This gives our members the smartest investment choices available to them.
"The efficiency with which we can now eliminate bogus or unlikely reversals has gone up exponentially," they said. "Our community is benefitting not only from this, but from each others' expertise and experience trading the FOREX market, and from our unmatched mentoring programs and online education strategies.”
About FX Groundworks
FX Groundworks are recognized leaders in the FX industry providing the most advanced array of harmonic trading tools, mentoring and education as well as an online community filled with other traders developing strategies for their next trade.
For more information please visit: http://www.fxgroundworks.com/