Hey Traders, we have a potential double bottom pattern setting up on AUDUSD 12 Hour Chart. For me double bottom & double top patterns are only complete once the neckline has been broken. In this case the pattern will be complete if price breaks and closes above .7131.
Hey Traders, we have an interesting confluence of technical patterns set up on AUDCHF daily. Not only has price put in back to back Head & Shoulders patterns but it has done so with in the structure of a bearish flag pattern. Price has broken out of both these patterns and with the stock markets falling over night we may see more money rush into the safe haven...
Hi traders, here we have a completed Head & Shoulders pattern on USDJPY 120 Minute. Price broke and closed below neckline over night. I'll be looking for initial targets at 112.74 (200% fib extension from top of head to neckline).
Hi traders, here we have a split screen of two DXY charts, weekly (left) & daily (right). Notice on the weekly chart price has possibly completed a right shoulder of what could potentially be a 12 + month inverted Head & Shoulders Pattern. While on the daily chart we have a completed failed Head & Shoulders pattern. Possible clues that Dollar could be heading...
We've seen price create one successful Head & Shoulders Pattern after another on the AUDNZD 2 day chart over the past year and a half, hopefully the most recent one setting up can produce another profitable trade.
Here we have a completed Double Top Pattern on XAUUSD with a decisive break through the neckline overnight. If this pattern is to fulfil it's potential target objective we will either see price push straight down from it's current level or retest the neckline before continuing to the downside.
From a classical charting point of view USDCHF has been the gift that keeps on giving in past week or so. Hopefully we see another push up with a break out of this possible bullish rectangle forming on the 60 minute chart.
We are possibly seeing a reversal in trend after a break of a second rectangle pattern to the downside. We saw the break out of the 1st bigger rectangle back on 20th Sep and price has been making lower lows and lower highs since then. I'll be looking for a valid entry signal if a retest of the bottom horizontal boundary holds. Initial target @ 1.9572.
This rectangle break out in line with the trend is providing another chance to jump on this move to the upside on USOIL after price broke through the neckline of a continuation H&S pattern last week (daily chart).
According to my current count on AUDJPY 240, wave 3 has likely completed and we are starting to form a wave 4 correction. I'll be looking for wave 4 to correct into this Fib zone (ideally bouncing of the 38.2) before continuing to the upside to complete wave 5.