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Intraday GBP/USD Falls Through Falling Wedge Support Level
The 60 minute GBP/USD (aka the "cable") has been trending lower within a mark down market cycle since the New York session Monday. This downtrend has created the perfect environment for the Continuation Falling Wedge chart pattern that has recently triggered and is now a Complete Pattern alert.
The 60 minute GBP/USD (aka the "cable") has been trending lower within a mark down market cycle since the New York session Monday. This downtrend has created the perfect environment for the Continuation Falling Wedge chart pattern that has recently triggered and is now a Complete Pattern alert.
26 August | 
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0 comments USD/CAD Forms Triangle as Intraday Charts Congest
Crude oil has slowly been moving higher as prices have reached a new annual high. The $74/barrel level has been broken during the last weeks of summer which leaves two points to consider.
Crude oil has slowly been moving higher as prices have reached a new annual high. The $74/barrel level has been broken during the last weeks of summer which leaves two points to consider.
25 August | 0 comments
0 comments EUR/USD Trading Above Uptrend Line Support and 1.4300 Level
The current uptrend on the 60 minute EUR/USD chart is starting a transition into a sideways cycle. As this transition occurs prices are trading closer to the uptrend line in support of a short term chart pattern. The Continuation Rising Wedge is not a large chart pattern at only 16 candles length (Y), but do not dismiss it.
The current uptrend on the 60 minute EUR/USD chart is starting a transition into a sideways cycle. As this transition occurs prices are trading closer to the uptrend line in support of a short term chart pattern. The Continuation Rising Wedge is not a large chart pattern at only 16 candles length (Y), but do not dismiss it.
24 August | 2 comment
2 comment EUR/USD Breaks Higher as Dollar Sinks
The EUR/USD chart has been rallying. This is happening as strong data and a strong pre-market Dow are sinking the U.S. Dollar. This relationship is likely to see a hurdle as the Dow climbs to 9,400 and the EUR/USD chart deals with the current resistance at the 1.4360 to 1.4450 mark.
The EUR/USD chart has been rallying. This is happening as strong data and a strong pre-market Dow are sinking the U.S. Dollar. This relationship is likely to see a hurdle as the Dow climbs to 9,400 and the EUR/USD chart deals with the current resistance at the 1.4360 to 1.4450 mark.
21 August | 0 comments
0 comments USD/JPY Forms Falling Wedge as Risk Appetite is tested
Each morning there is slight fear as the last weeks of the August doldrums lead into September. Next month normal participation and better volume is expected to resume.
Each morning there is slight fear as the last weeks of the August doldrums lead into September. Next month normal participation and better volume is expected to resume.
20 August | 0 comments
0 comments Intraday USD/CHF Finds Congestion within Triangles
Prices have been squeezing into symmetrical triangles on the 60 and 240 minute charts as the USD/CHF congests between 1.0800 and 1.0700. The range is narrowing as prices travel deeper into the triangle.
Prices have been squeezing into symmetrical triangles on the 60 and 240 minute charts as the USD/CHF congests between 1.0800 and 1.0700. The range is narrowing as prices travel deeper into the triangle.
19 August | 0 comments
0 comments Flag and Channel Chart Patterns: A look at today's EUR/USD
The EUR/USD was sent sharply lower by the equities sell-off and yesterday's subsequent flight to safety into the U.S. Dollar. But as the Dow recovers slightly pre-market this morning and (for now) the U.S.
The EUR/USD was sent sharply lower by the equities sell-off and yesterday's subsequent flight to safety into the U.S. Dollar. But as the Dow recovers slightly pre-market this morning and (for now) the U.S.
18 August | 0 comments
0 comments Risk Appetite Disappears as USD/JPY Follows Channel Lower
The USD/JPY has formed a Continuation Channel Down chart pattern in the 60 minute time frame as the Yen is gaining on the US Dollar. This is quite a feat as the US Dollar is strengthening with the pre-market Dow Jones being down over 180 points.
The USD/JPY has formed a Continuation Channel Down chart pattern in the 60 minute time frame as the Yen is gaining on the US Dollar. This is quite a feat as the US Dollar is strengthening with the pre-market Dow Jones being down over 180 points.
17 August | 0 comments
0 comments Zooming into Time Frames to Compare Pattern Alerts: Today's AUD/USD
This morning's AUD/USD is a perfect example of what we call time frame comparison or "triage". Triage comes from the French "to sort" and that's exactly what traders must do with multiple chart patterns.
This morning's AUD/USD is a perfect example of what we call time frame comparison or "triage". Triage comes from the French "to sort" and that's exactly what traders must do with multiple chart patterns.
14 August | 0 comments
0 comments Gauging Expectations for Trades and Pip Movement
Among the most important criteria for trading are time and expected pip movement. These help determine risk/reward levels. To place these randomly makes little sense when there are excellent tools available to statistically decide where the market may go or alternatively, the amount of pips it may move hour by hour, or even specifically day to day.
Among the most important criteria for trading are time and expected pip movement. These help determine risk/reward levels. To place these randomly makes little sense when there are excellent tools available to statistically decide where the market may go or alternatively, the amount of pips it may move hour by hour, or even specifically day to day.
13 August | 0 comments
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