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EUR/USD has formed a rather nice sloping channel pattern on the H4 chart. It consists of only 6 trading days but the price has already touched the channel lines 6 times. During the next few days a breakout is possible.
This descending channel is 175 pips high. I would …
Gold has failed to take the psychological level of $2,000/ounce, formed a double top recently, and posted the biggest weekly drop in its recent history last week. While this could be a sign of a short-term weakness amplified by the unfavorable market conditions, it also could be something more for this all-popular precious …
An interesting specimen of the descending triangle pattern can be seen on the EUR/NZD H4 chart. With its top peak at 1.7769 on August 9, the pattern spans from August 8 till August 12. The bottom of the triangle is formed near 1.7080 rate. There are only few H4 bars left …
An almost flawless symmetrical triangles pattern has formed on the USD/CAD H4 chart. The current price is quite close to the pattern’s apex, signaling a prompt breakout. The previous trend is clearly bullish, hinting that the bullish breakout should be expected. In case of a bearish breakout, the pattern may not sustain itself. …
A slightly sloped symmetrical triangles pattern has formed on the EUR/USD weekly chart recently. The chart pattern has still some space before apex and thus the breakout will probably take some time. Symmetrical triangles usually serve as a continuation pattern, so a bullish breakout is quite probable. In this case …
Although what you can currently see on the daily chart of AUD/JPY isn’t a classic example of the symmetrical triangles chart pattern, it’s still worth mentioning, and a potentially profitable trade may spring from it. But the biggest problem is that the previous trend for this pattern isn’t very clear. Immediately …
What might seem a tragedy for many home-bred silver investors could be a profitable trading opportunity for silver skeptics. Although the silver is growing for the second day in a row today, it’s still far below its peak level of $49.73 per troy ounce that was reached on April 25. While …
The GBP/USD currency pair has formed a somewhat sloped pennant chart pattern on the H4 chart during Thursday-Friday. The ”pole” part is formed by three bullish candles, while the ”pennant” itself is formed by the consolidation trading period of 9 4-hours candlesticks. Pennant is a continuation pattern — if the price closes above …
A somewhat flawed ascending triangle patter is currently visible on the AUD/USD D1 chart. Its lower part has started back in mid January and the upper part is from early February. Otherwise it looks very good with the slopes and number of candlewicks touching the forming lines. Since a bullish trend …
As I wanted to find out more about different trading chart patterns (lately, I’m quite fond of using them), I’ve chosen to read Suri Duddella‘s Trade Chart Patterns Like the Pros, which had a rather promising title and tables of contents. To say that I was disappointed is almost …
