equidistant channel Archive
Straits Times Index pulled back to challenge 3300 but technical setup suggests downtrend started. There is a confluence of overhead resistance to overcome including A) 3300 B) Fib-R levels and C) downtrending equidistant channel.
Straits Times Index is supported by a confluence of technical studies for now. We project potential support levels it can reach in a deeper correction. Projection places 2970 - 3050 as a zone to evaluate the technical picture again.
Technical picture provides 3 clues that suggest EURUSD may go to 1.305: 1) downward equidistant channel 2) significant 50% Fib-R support not reached yet and 3) pennant chart pattern that points to continuation.
There are three strong reasons to expect USDSGD to continue trending downwards: 1) 4-year consolidation 2) downward channel 3) multiple month trend. In addition we spot another bull-trap (#3) as well as point out levels to expect a signal.
We were bullish AUDUSD prior to high impact news. Data miss triggered stops. We look at what we missed and supports to look out for.
This GBPJPY head and shoulders chart pattern is in danger of becoming invalid, the right shoulder is changing. Which trading rules to apply?
We talk about the definition of Confluence Zones and why they exist. Then we offer some simple tips for using and finding them.
I am looking for clues from gold technical analysis to determine if the precious metal is reversing. At moment, bulls should not expect much.
EURUSD has been consolidating for 3 weeks.
A consolidation pattern spanning over such a significant period will most likely result in a more significant movement. Is price going to move after the consolidation? When will this consolidation be over so that a trader can change explosive movement?
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Planning trade at higher time frames I like to look at big picture, especially daily, weekly, monthly chart for planning. Once I set my mind on the levels and directions, I will stick to it. First talked about AUDUSD one month ago in twitter. $audusd weekly chart big picture planning twitpic.com/cji1bo — TerraSeeds FX Tflow®