The analysis chart seems to be good.
The analysis chart seems to be good.
190 pips Channel has appeared at the USD\JPY currency pair. IT is a very precise pattern that upon breakout will yield a massive profit of 190 pips.
It can also be defined as a Flag as the previous downtrend is very strong - meaning that short trades will be even stronger as trading signals.
How To Trade
-Wait for pullback to Support trendline after the breakout
Target for breakout is 190 pips from the price of pullback.
Analysis: Precise Channel at USD\JPY | ChartSecret.com
The USD\JPY is facing a Asymmetric Triangle pattern at the 15-minutes chart. Pattern is strong as Support has been tested for 7 times. We would expect price to break down the Support level and reach its target which is approximately 94.30.
Wait for price to break out, and enter short trade at pullback to the Support level. Target is 50 pips from pullback zone.
Daily USD\JPY Analysis | ChartSecret.com
USD/CAD once again fails below 1.1123 resistance and retreated. Break of 1.1004 minor support turns intraday outlook neutral again. On the downside, further break of 1.0870 minor support will flip intraday bias back to the downside for 1.0718 support. As noted before, break there will indicate that price actions from 1.0631 are merely consolidation in the larger decline, which is still in progress for another low below 1.0631 before completion. On the upside, break of 1.1123 resistance will confirm that whole rally from 1.0631 has resumed and affirm the case that USD/CAD has indeed bottomed out already. In such case, stronger rise should be seen to 1.1723 resistance next.[actionforex]
P&F USDCAD5 Box Size 10X3 or(0.27%) HI/LO
Data 1.1101 - 1.0791 ~ 0 Month ~ 7.27 Day
Database 1508 records 1.10269 (Last Close)
2009-09-04 07~25 (GMT+01:00) Paris
BJF Trading Group
BJF Trading Group|FOREX MetaTrader Expert Advisors
Two very nice patterns has appeared today on the USD\CAD and EUR\TRY. First one is the Double Bottom at the USD\CAD - a very precise pattern that signals the beginning of an uptrend. Pattern's size is 30 pips and this is the projected profit from the Long trade.
EUR\TRY has created a possible Descending Triangle that can signal a bearish movement upon a breakout of its neckline.
Double Bottom and Descending Triangle | ChartSecret.com
A Wedge pattern is now present at the EUR\USD major pair. The Wedge is a pattern that consists of two trendlines that are congesting, and leads to a reversal in trend. Unlike channel, which is a sign of strength and health of trend, the wedge shows that the trend is about to reverse.
Enter short if price reaches the high of 1.4620 and reverses. Target is at least the beginning of the wedge.
Wedge Reversal at EURUSD | ChartSecret.com
A Megaphone chart pattern has appeared at the AUD\USD pair. Megaphone or Broadening Top, is a reversal chart pattern that consists of two expanding trend lines that bound price.
It is a reliable reversal pattern with big profit potential, as it is 140 pips in size.
In case of breakout, enter trade in the breakout direction. Target will be 140 pips.
In case price touches the Resistance trendline, enter Short trade.
Source of Analysis:
AUDUSD Megaphone | ChartSecret.com
A bullish signal may be present at the USDCHF, after a long and strong downtrend. That signal is a Double Bottom pattern. This pattern consists of two touches of the same support level, that indicate that buyers are strong and will push prices higher. It is a reliable pattern with 73% success rate.
However, this particular pattern is present after a strong downtrend, so we will take a Long trade only after neckline is broken and a pullback occurs. Target for the trade is 50 pips.
USDCHF Double Bottom | ChartSecret.com
Channel Chart Pattern has formed at the AUD\USD pair - 48 pips in size. Lately, price seems to be losing momentum, about to break the support level of the channel. The channel was formed near strong resistance at 0.8800 which is a strong round level with high potential of stopping the uptrend.
Enter Short at breakout of Support and pullback to the level. Target is 48 pips from the Support level.
AUDUSD Channel - 50 Pips | ChartSecret.com
Chart: 1-Hour Chart
Pattern: Double Top
Size: 110 pips.
Description: Double Top pattern has formed at the EUR\USD hourly chart. Price has broken the neckline and now performing a pullback.
Trading: Enter short after pullback is confirmed, take profit is 110 pips from entry rice.
EUR\USD Double Top | ChartSecret.com