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Day: February 8, 2015
February 82015
Down-Sloped Double Top on H4 Chart of EUR/USD
On a longer-term chart, this pattern might seem insignificant, but the four-hour chart is clearly showing a double top formation that gives a bearish signal to all TA-minded traders. It peaks the short-term correctional uptrend wave that has lasted since January 26. It is easy to see the additional confirmation for a downward trend restoration in the pair’s failure to set a new higher high after February 3 maximum. You […]
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February 82015
Double Bottom Marks End of USD/CAD Correction
This double bottom pattern is less pronounced than a much similar EUR/USD double top but nevertheless, it terminates as significant correction on the USD/CAD chart and looks valid. Indeed, the formation looks spiky, is rather short, and is quite below the bottom’s resistance line. At the same time, it is symmetrical and demonstrates an important failed lower low. You can see the pattern marked with the yellow lines on the chart […]
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