Risk reward bearish rectangle pattern, short position, price is moving short and sideways motion.
After making a Head and Shoulders bottom price has now formed a horizontal flag. Volatility has reached new lows as price has coiled into a squeeze at the key level of 15.85. I'm anticipating a resolution to the long side from the squeeze with the major trend. Immediate target @ 19.56 and LongTerm target of the 2015 highs @ 24.23
Now let's take a look at how AUDUSD acted out since November 2016. As you can see the strong 0.77615 Resistance held and the initial downtrend begun ; downtrend continued but eventually stopped right around the very end of December , 0.71633 support level stays strong and the uptrend has begun. As shown , the first uptrend moved kind of strong up towards the...
A rectangle has formed on AUD/JPY. Potental down move of about 180 pips. Wait until .236 fib mark is hit (86.74).
Hello Traders, I hope everyone had a profitable week. Here is something for the next week.. AUDJPY is in consolidation zone in a rectangle channel since last few days. It seems like price is resisting and will make downward move to retest the support area. Latest Engulfing Candle on resistance level and an overbought RSI indicate short entry.
Price is consolidating within a rectangle channel pattern and seems to be making it's next leg down to the bottom of channel support. Wait for close and confirmation on lower timeframes. Good Luck!
After an impulsive downmove the price shows a bearish flag. I think we could see another touch of the upper resistance level
uptrend ... its a horizontal correction... buy after going out of rectangle
Good breakout. Ascending triangle, Rectangle. Target at 31.
Will the rectangle channel pattern continues ?
Pretty clear bearish rectangle formation, along with pretty bearish clouds all around.
After forming a rectangle pattern, EUR/USD has seemed to have finally broken down on a fairly good amount of volume and with bulls taking control of the market it's fair to say a downtrend may be just around the corner, as well with the MACD crossover below the center line it's a good confirmation of a new downtrend
Wait for price to stay around 13.1 - 13.09 then enter long term shorting position
wait for a candle to close above the 0.97449 level to confirm breakout
Nifty PSU bank has broken down from a rectangle pattern; futher fall likely