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The basis point is most commonly applied when quoting interest rates and yield changes. For example, if interest rates are increased from 1.10% to 1.50%, it would be described to have risen by 40 basis points.
Chart patterns are a bit difficult to spot at first, but once you get used to them, you will see them all over the place. Learn how to identify and trade them: https://goo.gl/6RoNre