Analysis

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

AUDUSD Channel - 50 Pips

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.

Trading:
Enter Short at breakout of Support and pullback to the level. Target is 48 pips from the Support level.

USDCHF Double Bottom

AUDJPY Reversal Chart Pattern

Reversal Chart Pattern

AUDUSD Megaphone

AUD\USD has created a very precise Megaphone chart pattern. The Megaphone pattern consists of two expanding trendlines. IT is generally a reversal chart pattern that usually breaks after 5 touches at the Support and Resistance trendlines. Pattern's size is 140 pips - a large pattern with good profit potential.

Trading:
Enter Short if price touches Resistance trendline. Use conservative profit target and price can easily reverse and break the Resistance trendline.

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