Day: May 27, 2012

May 27
2012

USD/JPY Forms Symmetrical Triangles on H4

USD/JPY has formed an almost ideal symmetrical triangles pattern on its H4 chart. The formation dates back to May 16 and the slopes of the borders are visually identical (in fact, the top border has a bigger slope than the bottom one). Both borders are confirmed by numerous touch-points. The only noticeable flaw in these symmetrical triangles is that the price went inside the pattern almost to the apex, which may render the pattern untradeable. […]

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May 27
2012

Double Top on AUD/NZD @ H4

The double top (M-pattern) is now clearly visible on AUD/NZD chart in H4 timeframe. Like the symmetrical triangles on USD/JPY it was forming since May 16. Not many currency traders look into such pairs as AUD/NZD, but this time it seems to be worth it. The pattern may look to be far from perfect — first top is a bit higher than the second and also consists of “sub-tops“, […]

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