Technical analysis by ChartSecret

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  1. #31

    Default EUR\USD Wedge + Head & Shoulders (220 Pips Target)

    Two patterns can now be seen on the EUR\USD, both suggesting bearish trend.
    First on is the Ascending Wedge which is a reversal pattern - price has already broken its support line. Second pattern is the Head & Shoulders, which is a bit dis-proportioned in the EUR\USD. It is the classic and strongest reversal patterns.

    Enter short after breakout of the support level at 1.4620, or at the pullback to this level. Target is 220 pips from pullback location.

    Analysis and Chart Pattern Trading:
    EUR\USD Wedge + Head & Shoulders |
    Attached Images Attached Images Technical analysis by ChartSecret-eurusd-wedge-27-09-09-jpg 

  2. #32

    Default AUD\JPY Trading Range - 350 Pips

    The AUD\JPY 'exotic' pair is in a trading range- two horizontal support and resistance levels that bound price and serve as lower and upper boundaries. Support level is at 76.50 and Resistance is at the round level of 80.0. The trading range is 350 pips in size and offers good trading opportunities:
    *Long trades will be issued on touch of Support
    *Short trades will be issued on breakout of Support or Touch at Resistance.

    Analysis and Chart Pattern Trading:
    AUD\JPY Trading Range |
    Attached Images Attached Images Technical analysis by ChartSecret-audjpy-range-29-09-09-jpg 

  3. #33

    Default EURJPY - 120 Pips Trading Range

    A trading range has evolved at the EURJPY pair. Price is strongly bound by two horizontal support and resistance levels: 131.8 and 130.6. These levels have been tested for 3-4 times and are considered highly reliable.

    The main direction is upwards. I expect price to break Resistance - and I would join the trend at the pullback to the broken Resistance level.

    More Analysis and Trading Articles
    EUR\JPY Trading Range |
    Attached Images Attached Images Technical analysis by ChartSecret-eurjpy-trading-range-01-10-09-jpg 

  4. #34


    The Dollar versus Loonie pair surged to the upside to breach the key resistance at 1.0765 and halt at the 61.8% correction to record a similar top to the one seen earlier on September 21, which may be the beginning of the formation of a bearish technical patter with a neckline at 1.0675. From here we expect the pair to decline on the intraday basis; targeting the neckline, where the overbought signals on the stochastic indicator are supporting our overview as far as 1.0990 is intact.

    The trading range for today is among the key support at 1.0400 and the key resistance at 1.1040

    The general trend is to the downside as far as 1.1870 remains intact with targets at 1.0300 [actionforex]

    "P&F USDCAD5 Box Size 10X3 or(0.28%) HI/LO
    Data 1.0991 - 1.0671 <Month ~ 7.25 Day
    Database 1500 records 1.07958 (Last Close)
    2009-09-25 16~55
    2009-10-02 22~55
    (GMT+01:00) Paris
    BJF Trading Group"

    1.1000|~1O|||_____________________________________ __|-0.08%|3.08%
    1.0990|~2O|||___X_________________________________ __|0.01%|2.99%
    1.0980|~3O|||___XoX_______________________________ __|0.1%|2.9%
    1.0970|~4O|||___XoXo______________________________ __|0.19%|2.8%
    1.0960|~5O|||___XoXo______________________________ __|0.28%|2.71%
    1.0950|~6O|||___Xo_o________________________X_____ __|0.37%|2.61%
    1.0940|~7O|||_X_X__o________________________Xo____ __|0.46%|2.52%
    1.0930|~8O|||_XoX__o________________________XoX___ __|0.55%|2.43%
    1.0920|~9O|||_XoX__o________X_____________X_XoXo__ __|0.65%|2.33%
    1.0910|~1OO||_Xo___o______X_XoX___________XoXoXo__ __|0.74%|2.24%
    1.0900|~11O||_X____o______XoXoXo__________XoXoXo__ __|0.83%|2.15%
    1.0890|~12O||_X____oX_X_X_XoXoXo__________Xo_o_o__ __|0.92%|2.05%
    1.0880|~13O||oX____oXoXoXoXoXo_o__________X____o__ __|1.01%|1.96%
    1.0870|~14O||o_____oXoXoXoXo___o__________X____o__ __|1.1%|1.86%
    1.0860|~15O||______oXoXoXo_____o__________X____o__ __|1.19%|1.77%
    1.0850|~16O||______oXoXo_______o________X_X____o__ X_|1.28%|1.68%
    1.0840|~17O||______o_oX________o________XoX____oX_ Xo|1.37%|1.58%
    1.0830|~18O||________oX________o________XoX____oXo Xo|1.46%|1.49%
    1.0820|~19O||________oX________o________Xo_____oXo Xo|1.56%|1.4%
    1.0810|~2OO||________oX________o________X______o_o Xo|1.65%|1.3%
    1.0800|~21O||________o_________o________X________o Xo|1.74%|1.21%
    1.0790|~22O||__________________oX_______X________o __|1.83%|1.12%
    1.0780|~23O||__________________oXo______X_________ __|1.92%|1.02%
    1.0770|~24O||__________________oXo______X_________ __|2.01%|0.93%
    1.0760|~25O||__________________oXo______X_________ __|2.1%|0.83%
    1.0750|~26O||__________________oXo______X_________ __|2.19%|0.74%
    1.0740|~27O||__________________oXoX_X_X_X_________ __|2.28%|0.65%
    1.0730|~28O||__________________oXoXoXoXoX_________ __|2.37%|0.55%
    1.0720|~29O||__________________o_oXoXoXoX_________ __|2.47%|0.46%
    1.0710|~3OO||____________________oXo_oXo__________ __|2.56%|0.37%
    1.0700|~31O||____________________oX__oX___________ __|2.65%|0.27%
    1.0690|~32O||____________________oX__o____________ __|2.74%|0.18%
    1.0680|~33O||____________________o________________ __|2.83%|0.08%
    1.0670|~34O||_____________________________________ __|2.92%|-0.01%
    Column|~35O||2738431599443545431716335531313664135 65|
    Count|~36O|||______4___________9_1______4_O____2__ ___


    BJF Trading Group|FOREX MetaTrader Expert Advisors

  5. #35

    Default +400 PIPS Double Bottom at GBP\JPY

    A double bottom pattern is occuring at the GBP\JPY pair at 4-hours chart. The double bottom is a reliable pattern with high win rate, and this one is even stronger due to its asymmetric nature. The 2nd bottom is higher than the 1st, which indicates that the buyers are becoming powerful, and sellers could not reach the previous low.

    Pattern is 400 pips in size - very big one.

    Trading: Take long at the pullback to the neckline, with 400 pips as your take profit.

    Analysis Source: 400 Pips Double Bottom in GBP\JPY |

  6. #36

    Default 100 Pips Double Bottom - USD\JPY

    A double bottom pattern has been formed at the USD\JPY pair - pattern is 100 pips in size and looks very precise. This is a reliable pattern in which price stops twice at the same support level - which eventually leads to a beginning of a bullish movement.

    Enter long at the breakout, or at the pullback to the neckline. Target is 100 pips from the breakout location.

    100 Pips Double Bottom - USD\JPY |
    Attached Images Attached Images Technical analysis by ChartSecret-usdjpy-double-bottom-09-10-09-jpg 

  7. #37

    Default 100 Pips Double Bottom in USD\CHF

    A very precise Double Bottom chart pattern is now present at the USDCHF, at 1-hour chart. Size of the pattern is 100 pips which offers great potential for profits. Price is now struggling with the neckline and after it breaks price is expected to rise to 1.440 which is the target.

    The Double Bottom is a highly reliable chart pattern which leads to reversal of trend in more than 70% of the time - this one is especially large and will offer entries with high Risk:Reward ratio.

    Trading: Enter long at the breakout of the neckline, or wait for pullback for extra-reliability.

    Source: 100 Pips Double Bottom in USD\CHF |
    Attached Images Attached Images Technical analysis by ChartSecret-double-bottom-usdchf-12-10-09-jpg 

  8. #38

    Default 60 Pips Double Top - EUR\CAD

    A Double Top pattern, slightly dis-proportioned, appeared at the EUR\CAD. The second top is lower than the first - which enforces the strength of the pattern - the buyers did not even reach the previous high, which indicates that sellers are gaining strength.

    However, the pattern has not been validated as the neckline was not broken yet.

    Trading: Wait for the neckline to break and enter short trade. Conservative traders will wait for pullback to enter a more reliable trade. Target is 60 pips from pullback location.

    EURCAD - Double Top (60 Pips) |
    Attached Images Attached Images Technical analysis by ChartSecret-double-top-eurcad-16-10-09-jpg 

  9. #39

    Default USD\JPY Triple Bottom - 200 Pips

    A very price bullish pattern has been broken in the USD\JPY Forex pair - the Triple Bottom. This is a very strong bullish pattern that leads to a uptrend in 83% probability. Note that the neckline is a tested Resistance area that was confirmed for 5 times and proven as strong.

    Price has began to pull back to the neckline. Wait for confirmation from candlesticks and enter Long trade with target of 200 pips and stop loss behind the downswing (90.20).

    Analysis Source:
    USD\JPY Triple Bottom - 200 Pips |
    Attached Images Attached Images Technical analysis by ChartSecret-usdjpy-triple-bottom-18-10-09-jpg 

  10. #40

    Default 60 Pips Double Bottom | EUR\USD

    Very precise double bottom has been broken at the EUR\USD pair. Price has broken its neckline and may pull back to test it again. If it does pull back, we would enter Long trade with take profit 60 pips from the pullback location. The 4-hour chart also shows us that the EUR\USD has recently completed 23.6 Fibonacci Retracement and therefore is expected to continue its bullish movement, even beyond the current top.

    More analysis:
    60 Pips Double Bottom | EUR\USD |
    Attached Images Attached Images Technical analysis by ChartSecret-double-bottom-eurusd-21-10-09-jpg 

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Technical analysis by ChartSecret

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