Almost every single trading day you hear about some new algorithm, indicator or oscillator that is guaranteed to make traders millions of dollars. Years ago, I recall a TV commercial that had a red light and green light system that anyone could follow and make tons of money. It seems that most of these magic systems fade away and become forgotten by the users. Personally, I use charts and that seems to be the only way that I can gauge where the money flow is going. After all, it is money flow that moves stocks higher and lower, there is really nothing else.
There are many important charting tools that anyone can use to trade markets. Many traders like to use moving averages, patterns, retraces, volume, candle sticks and lots of other things. I try to combine all of these things and more when trading to give me an edge in the market. One of my favorite tools that I use is so simple, but it is often overlooked by so many traders. It is stock market symmetry. You see, the market like everything else in the world are very symmetrical. Most chart patterns seem to have a very similar and sometimes identical move taking place on the chart.
Market symmetry is something that any trader can test for themselves. Just calculate the move from a low and then look at the next advance after a pullback and you will likely see a very similar advance that takes place. Often, the next move in the equity will be exactly the same iin points. In fact, the popular head and shoulders pattern is based off of stock market symmetry. There are many other patterns and chart setups that will also play out in a vert symmetrical manner. Test this for yourself and you will see how useful this can be by simply recognizing and calculating the symmetry that occurs in almost every equity.
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