Prepare for retracement break-and-fake back to Triangle pattern, Falling through prior recent low tests would be strong bearish sign in short term. If it succeeds in revisiting top of Triangle pattern, a continuation of larger timeframe uptrend is likely
A period of sideways and down consolidation after a powerful bullish runup. Conventionally, the target is determined by the length of the price runup (flag-pole) that preceded it. Recommended to maintain non-directional options by bracketing both sides of the flag with stop-in levels
High likelihood of retracement of last pivot high rejected. Acceptable Risk/Return ratio
There is a Divergence on the MACD indicator which might indicate a weakening of the price bearish momentum. If it holds above the channel low there is a high probability of a reversal to the top of the channel
Tight stop-loss which indicates continuation of bullish activity. Take profit at differnet intervals dependent on risk appetite
GBPJPY is approaching the 9yr highest level and is likely to want to test it. If it exceeds it and then retraces below, there is an opportunity for some short trades with sufficient indecision driven volatility to the downside before a possible recommencement to new highs
Tendency is to revert in the absence of new information and increased order flow, the inverse is true for breakouts
This pattern is challenging to trade but the Risk to Return ratio on this trade is acceptable with well defined failure levels and a high likelihood of reversionary activity prior to news generated momentum moves.
Price approaching Triangle Apex after period of lower highs and higher lows. High likelihood of break and fakes at this point so use the entry of the opposite direction as the stop-loss level.
Combination of overlapping Head and Shoulders with Cup and Handle patterns as well as the confluence with news release being close to the inflection points could result in strong volatility moves.
Approaching pattern breakout levels. Moves may occur preceding the JPY Inflation news release. Use the entry of the opposite direction as the stop-loss level.
Possible trend reversal if break above external channel or continuation if below. There is a channel within the larger timeframe channel and unless there is an unexpected news event the tendency will be to range within the channels until a breakout occurs
Conventionally a Bullish breakout pattern but might be advisable to wait for test of either edges before determining direction. Use the entry of the opposite direction as the stop-loss level.
A divergence on the MACD indicator suggests a weakening in the price momentum of the previous bullish trend. As there could be a period of non-directional consolidation, wait for price to close outside the bracketing entry levels
Wait for test of edges before determining direction. Use the entry of the opposite direction as the stop-loss level.
Bullish breakout activity corresponding to ZAR fundamental news. If price retraces on negative USD news, go short at retracement below upper trendline
Possible Reversal Pattern after a period of consolidation. There are numerous resistance levels at close price proximity so will require sufficient momentum to break through
Price may want to test the previous pivot high before either breaking out above it or travelling to the lower boundary of the wedge to continue with the higher timeframe downtrend. A divergence on the MACD indicator may also indicate that price is losing it's upward momentum