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In this video tutorial, Eric from Wise Capital FX discusses the importance of setting alerts on your trading platform. Setting alerts is crucial for monitoring setups like inverted head and shoulder patterns and anticipating price reversals. By setting alerts at key levels, such as the neckline of the pattern, traders can be notified when price breaks out without having to constantly watch the charts. This allows traders to be more efficient with their time and engage in other activities while still being alerted to important market movements.
