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December 12th: Descending Channel

USD\JPY is in a strong descending channel at the daily chart. The channel was tested for 7 times and is considered a very reliable pattern.

Traders can take trades on the Resistance trendlines, after candlesticks confirm the entry. A target for this trade is the support trend line.

Short trade can be signaled when price breaks the channel downwards, or pulls back to the broken trendline.

Decemer 8th: Bearish Megaphone at USD\CAD

A Megaphone at 4-hour chart may signal the bearish breakout and a beginning of a downtrend at the USD\CAD. Price has finish 4 touches at the trend lines of the Megaphone and it is expected to create a partial rotation, reverse and break the support trendline. Megaphone is based on the 1.0400 Support level which is a strong psychological level - once the megaphone is broken we could expect this level to break as well.

Flag pattern at Crude Oil

Flag chart pattern at the Crude Oil

A Flag pattern at the Crude Oil indicates the high likelihood of continuation of the bullish trend at the Oil. The Flag is a strong continuation pattern that leads to a breakout upwards in a high probability. It can also be confirmed using the exact 23.6 Fibonacci Retracement that also indicates a continuation of the bullish trend.

These signs show that the Oil is about to break upwards and continue the uptrend - in high probability.

NZD\JPY Head & Shoulders Pattern - 500 Pips

Head & Shoulders Chart Pattern at NZD\JPY

A Head & Shoulders pattern was completed at the NZD\JPY exotic pair, at daily chart. The Head & Shoulders is considered the most reliable chart pattern, with over 95% win rate. This pattern is a strong reversal pattern that creates big trend reversals - and indicates a shift to a bearish trend at the NZD\JPY.

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