Analysis

Analysis and Trading Plans for FOREX pairs, S&P, DJIA, etc.

Bearish Reversal at USD\CAD, 4-hour chart

Strong bearish reversal sign at the USD\CAD: A precise Wedge - one of the most reliable reversal signals.

Moreover, the price was stopped at exactly 38.2% of the last big trend, which means that the late uptrend since May was merely a Retracement.

Trading
If price stops again at 1.1600 and creates reversal candlestick formation, enter Short with big targets ahead.

Broadening Megaphone - GBP\USD, four-hour chart

A nice, clean Broadening Megaphone in the GBP\USD, at the 4-hour chart. A very reliable pattern that produces high-probability trades.

Pattern is 400 pips in size - a plenty of room for trading within the Support and Resistance.

Trading
Long trades will be taken on Support trendline.
Short trades will be taken - cautiously - on Resistance trendline. Beware that this pattern may break upwards, so profit taking should be quicker.

Asymettric Triangle - EUR\JPY

A perfect Asymettric Triangle is present at the EUR\JPY, at 1-hour chart. Note the higher downswings that show buying pressure on the EUR\JPY, and the horizontal Resistance line right at the 135 level. The strong psychological level also empowers the trades probability.

Pattern size is 317 pips - big pattern with profitable Risk:Reward ratio. At the four-hours chart it can be seen as a part of a Wedge, which can also break upwards.

Pattern target: 138.17.

Trading

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