Posts Tagged by forex chart patterns
AUD USD: Ascending Triangle Chart Pattern
| January 13, 2012 | Posted by admin under Forex - AUD/USD |
There is an ascending triangle chart pattern on the AUD USD daily chart, which is very near resistance. Source: ForexYard on MT4 I have shown two potential drawings for the ascending triangle chart pattern, marked by the red lines. I prefer the smaller pattern which is highlighted by the blue box. Here is a potential entry, stop…
Two Forex Chart Pattern Set-Ups
| December 19, 2011 | Posted by admin under Forex - Other Pairs, Forex - USD/CAD |
Two Forex Chart Pattern Set-Ups Chart patterns provide an easy way to trade the forex market. This is because chart patterns provide an easily identifiable entry point, stop level and profit target. Here are two chart patterns in the USD/CAD and EUR/CHF currency pairs I am seeing right now, and will briefly outline the entry…
Why trade with chart patterns?
| December 4, 2011 | Posted by admin under Intro to Trading, Techncial Analysis Tutorials |
Chart patterns are created when the price of a security or forex pair moves in a certain way creating a recognizable pattern. The following takes a brief look at what chart patterns are, why they are useful and how to trade them. Several chart patterns are very useful in controlling risk while capitalizing on profitable…
Forex chart patterns – daily chart
| October 15, 2011 | Posted by admin under Forex - Other Pairs, Forex - USD/JPY |
With markets closed for the weekend, I have gone through the daily charts and looked for chart patterns. There are always lots, here are a few that caught my eye. Explanations have been kept brief, it is the weekend after all. If you are seeing other patterns, feel free to post a comment. USD/JPY Has…
Triangle forming in USD/CAD
| August 23, 2011 | Posted by admin under Forex - USD/CAD |
A triangle chart pattern is forming in the USD/CAD. The triangle has a height of 250 pips. This provides a target of the breakout price +/- 250 pips. Based on approximate breakout levels this puts targets at 1.0150 if the breakout occurs to the upside, or 0.9550 if the break occurs to the downside. More…
Could the Dollar Index (DX) go to 60????
| August 18, 2011 | Posted by admin under Commodity Analysis, Forex - Other Pairs |
My brain screams “No way!” With the dollar index already having taken a pounding since mid-2009 is it possible it could continue to sell off? Currently the dollar index trades at 74.35 so a decline to 60 would be another 20% down. I gotta be honest here, it seems unreal, but looking at the this…
AUD/USD descending triangle
| June 24, 2011 | Posted by admin under Forex - AUD/USD |
There is a descending triangle formation in the AUD/USD. Apex is very close to the long-term uptrend. Downward breaks should be traded with caution as primary uptrend support is not far below the current breakout point (false breakout potential). Prefer the upside break in the context of the long-term trend. Target is 500 pips (rounded down from…
EUR/USD could correct to 1.3610…or lower
| June 23, 2011 | Posted by admin under Forex - EUR/USD |
The EUR/USD has consolidated in a triangle formation after a primary advance which began almost exactly one year ago. A downside breakout of the pattern is likely to spur selling of the EUR into the primary trendline support, currently at 1.3610 (will rise over time as the line is upward sloping). The actual pattern has…
EUR/AUD forex chart pattern-Flag formation
| June 19, 2011 | Posted by admin under Forex - Other Pairs |
Within the context of a broader downtrend a flag formation has formed in the EUR/AUD. While a flag is a “continuation pattern” it is wise to wait for the breakout of the pattern to the downside. Currently, a downside breakout will occur at 1.3420. That entry point will increase over time as the line is…
GBP/JPY Triangle Chart Pattern
| February 12, 2011 | Posted by admin under Forex - Other Pairs |
A triangle chart pattern has formed in the GBP/JPY forex pair, and is clearly visible on the 30 minute chart. High of the pattern is 113.43 and the low is 112.61 for a height of 82 pips. Currently a breakout above the upper trendline would take place at 113.10 (this will decrease over time) thus…
Recent Comments