PAGuy
Long

Long at 92 Handle

FX:CADJPY   Canadian Dollar/Japanese Yen
83 12 0
Looking for PA to go long at the 92 handle as a double bottom has formed.
Fewer housing starts than expected in Canada in January don't seem to have any impact on the loonie.
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the same like FF, target for double bottom was reached, in daily looks like double top, and possibly this was just neckline retest
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PAGuy itaskar
How can you see a double top on the daily? Would you mind making a chart and linking it here, so I can get a look :)

Thanks,
Adam
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itaskar PAGuy
yes may, thats what i see
snapshot
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PAGuy itaskar
Hmm, to me, that isn't really a double top. I don't really trade from EMA's, but I sometimes use the 20 SMA, and price usually makes a pull back to it, so I would be expecting a pullback to the 200 EMA, which is about the level at 94.
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itaskar PAGuy
i am not using EMAs as well pal, just check it sometimes, i forgot to make it invisible :)
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I was also wondering, what you're going to show us here. :-)
What you can see on this chart is not a double top, but a formation that by some people is called "The Texas T", which is akin to the classic H&S. You've got a very good eye to have noticed it. Quite often, when the trend is done, price doesn't make a new high, it neither makes it to the top, it just stops and reverses at the alternate swing high, which is what you can see here. :-)
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itaskar ForceFollower
briliant, something new, now I see it...btw. try to put monthly timeframe, there is adam adam double top :)
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Sorry, I must be myopic or blind, I can't see it. Would you mind showing it please? By "adam adam" do you mean the sharp tops derived from T. Bulkovsky's Encyclopeadia?
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itaskar ForceFollower
yes may, maybe adam and eva, anyway you know what i meant, monthly price was closed below neckline
snapshot
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