Reversal signal also shown in Loonie

Continuing our discussion of a reversal using EURJPY, here is another illustration where we can see the recurring patterns.

A look at the weekly chart of the Loonie shows that a reversal pattern can be found between October 2008 and March this year.

There recurring patterns we found in the EURJPY can be found here:

1. A resistance provided the ‘hard place’
2. The head and shoulder chart pattern provided  a clue to a reversal at the right shoulder
3. The right shoulder was also an evening star candlestick pattern
4. Lastly the break of the neckline provided the last confirmation we need.

Loonie reversal pattern displayed several clues