This head and shoulder-ish pattern could be a continuation in light of the downward trend we covered in previous analysis. The neckline is critical and price hitting confluence an hour ago is classic. Which way? RELATED ARTICLES GBPUSD bound in 7-week range Follow me on Twitter @sohtionghum
Read more →GBPJPY analysis week 36 Recap last two weeks – In my week 34 analysis, I mentioned about triple top and bearish sentiment for GBPJPY and to watch for rejection or neckline break of triple top to short. In the beginning of 35 week , we saw a
Read more →The week of 22-26 Aug was a volatile week. Gold made a historic high at 1912, retraced down to 1702 and returned back to 1823. To put the volatility into perspective, for the current month – Aug’11, we have a price range of 210 (1607 to 1912).
Read more →The Dow Jones Industrial Average staged the best 1 week performance in 2 years to close off 5.43% higher for the week ending 1st July. The index is right where we started in the start of the month and bears will definitely be concerned about how the
Read more →Recap week 20 and 21- In my last analysis, I mentioned that price has hit the first Target Profit in week 19 and watch for any reversal pattern on high time frame pattern to long this pair. I also mentioned that for price to be bullish, price
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Read more →Recap week 15- GBPJPY had a bear predominant week 15. As mentioned in previous analysis, price fell 200 over pips after breaking the neckline (formed by the July high), and bulls had a tough time surviving. Were you able to catch this trade? Congrats to those who
Read more →For the month of March 2011, Gold continues its ascent started in Feb and it reached 52 weeks high of 1447. In comparison to the month of Feb 2011, which did not make any significant retracement, Gold did retrace to 1380 during Japan earthquake. Subsequently, it made
Read more →A look at the weekly chart of the GBPCHF pair shows that they are still respecting a downward channel marked in purple. Therefore the long term view of this pair should be treated as bearish until we see a clear break of the upper line of the
Read more →Chart patterns give hints of action by smart money. This is especially true when the picture doesn’t want to go away. So I visited this old idea and find that it is now more convincing than ever. Based on the chart, it is strongly conceivable that Euro
Read more →Since the beginning of February 2011, Gold has been on rise, triggered in part by the violence in Middle East. However, last week (Week 8), gold could not pass the 1413 level which coincides with a 85.4% retracement on daily chart. It went sideway with 1392-1400 being
Read more →NZDUSD, also known as the Down Under pair, is likely to go down under the support trendline in the coming weeks. The latest weekly candle is pivotal as it closes below the rising trendline that is akin to a cliff commonly found in the mountainous NZ. A
Read more →August 17, 2010 By Elliott Wave International In the August issue of his Elliott Wave Theorist, market forecaster Robert Prechter alerted readers that the U.S. stock market was slicing the neckline of a classic head-and-shoulders pattern in technical analysis, and that this may send the market into
Read more →Chart patterns provide a good way to figure out the direction of the market. A good chart pattern offers the following clues to the trader: Hint of market direction Criteria for confirmation Early trade signal All in all, its qualities are predictive, pre-emptive. Let’s look at Aussie
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