A break of the 50ema could open up the high side and retest the .7590 zone which would act as the upper parallel for the channel. If it fails to break above the 50 we have another trend line which would act as the upper parallel and push price back down to the .75 zone to create a new low.
FX_IDC:AUDCHF
Forgive me I am not specialist when it comes to knowing all the bullish and bearish pattern formations YET. But it has been in a clear bullish channel for a while now. But recently its created higher lows and highs. It can continue to rise up as I have drawn. I can tell it is in a breakout formation to the upside or down is too early to tell.
The pattern looks more like a pennant. Breakout is over, now there is a very good possibility to go short. Act according to your trading style.
0.5 FIB IS BROKE AND I AM WAITING TO TOUCH 0.61 ZONE AND THEN ROCKET TO THE RESISTANCE ZONE ! IT WILL BE A GOOD 140 PIPS
This looks very much like an ascending triangle pattern. However, it is not yet a classical one. Horizontal top is almost adjusted. The price already crossed the pattern several times. However, at this moment, we have to wait and see how the market respond to this structure. Follow my Update Keep calm and see how the market respond to this structure.
The bull flag pattern is found within an uptrend. The bull flag is a continuation pattern which only slightly retraces the advance preceding it.The technical buy point is when price penetrates the upper trend line of the flag area.
4H Chart Higher High Lower Low Lower High Daily Resistance Area Short trade active from Top and Daily Resistance Long Term Trade TP at DAILY SUPPORT
AUDCHF setup, i'm very new at this so if my chart have some kind of problem i appreciate your comments on that. Thanks.
AUDCHF 2 in 1 patterns to keep on mind!
Range is tightening, moving averages are flat, lots of wicks to show the boundary of the wedge. This all shows indication of an impending breakout.