Abdul_B

Abdul_B Updated 

Symmetrical triangle. Expected Long.

Abdul_B

Symmetrical triangle. In the chart above, we can see that neither the buyers nor the sellers could push the price in their direction. When this happens we get lower highs and higher lows. We can place entry orders above the slope of the lower highs and below the slope of the higher lows. Since we already know that the price is going to break out, we can just hitch...

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Placing an entry order above the top of the triangle and going for a target as high as the height of the formation.

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Descending Triangle. In the chart above, you can see that the price is gradually making lower highs which tell us that the sellers are starting to gain some ground against the buyers.Now most of the time, and we do say MOST, the price will eventually break the support line and continue to fall. However, in some cases, the support line will be too strong, and the...

Abdul_B

A formation of symmetrical triangle. What’s happening during this formation is that the market is making lower highs and higher lows. This means that neither the buyers nor the sellers are pushing the price far enough to make a clear trend. If this were a battle between the buyers and sellers, then this would be a draw. This is also a type of consolidation. In...

Abdul_B Updated 

We don’t know what direction the breakout will be, but we do know that the market will most likely break out. Eventually, one side of the market will give in. We can place entry orders above the slope of the lower highs and below the slope of the higher lows. Since we already know that the price is going to break out, we can just hitch a ride in whatever direction...

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As you can see, the price came from a downtrend before consolidating and sketching higher highs and even higher lows. Rising wedge formation. Bearish continuation signal.

Abdul_B Updated 

If we placed an entry order above that falling trend line connecting the pair’s highs, we would’ve been able to jump in on the strong uptrend and catch some pips!. A good upside target would be the height of the wedge formation. If you want to go for more pips, you can lock in some profits at the target by closing down a portion of your position, then letting the...

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If we had a short order just below the support level, we would have made a nice profit on this trade. Once the pair falls below the support, it tends to make a move that is about the size of the rectangle pattern.

Abdul_B Updated 

1DAY. Inverse Head and Shoulders. I think its long because the head is the second peak and is the highest point in the pattern. The two shoulders also form peaks but should not exceed the height of the head.With this formation, we would place a long entry order above the neckline. Measure the distance between the head and the neckline, and that is approximately...

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The price is testing the support and resistance levels several times before eventually breaking out. It might go upside or downside. Expected is downside...

Abdul_B Updated 

EURUSD 30MIN -I think its short because the head is the second peak and is the highest point in the pattern. The two shoulders also form peaks but do not exceed the height of the head.With this formation, we put an entry order below the neckline.