[FX-USDCAD] Bearish Bat Forming

I was scanning thru some charts this afternoon in between meetings and I spotted this nice looking Bearish Bat Harmonic Pattern on the USDCAD daily chart. The pattern is reaching completion as price is testing the 88.6% Fibonacci retracement level. Filed under: 3-Wave Correction Pattern, AB=CD, Bat Pattern, Bearish, Fibonacci, Forex, Harmonic Patterns, Potential Reversal […]



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[FX] EURUSD in Range And Approaching Resistance – Update

Looking back at my post on 20 August 2013 regarding EURUSD in range and approaching resistance, the latest happenings on this pair is showing that price is rejecting further upward movement at the resistance zone. I aslo see a Rising Wedge (circled in orange) formed plus a Bearish Divergence between price and the Williams %R […]



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FX Watch for Week Beginning 19 Aug 2013 – Update

Since my post on 18 August 2013 on the interesting FX pairs I would be watching for the week beginning 19 Aug 2013, I have entered two short positions. One on NZDJPY and the other on GBPUSD. NZDJPY Daily – Short Position Taken Based on Pin Bar At Resistance Zone In the case NZDJPY, the […]



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[FX-EURAUD] – Early Warning – Potential Double Top – Update2

The Symmetrical Triangle Pattern breakout, as described in my original post and subsequent update, clearly has failed. The price action shows a false breakout of the Triangle and now is moving back up to test the resistance zone again. This resulted in a small loss of 2% of my account balance, but its part of […]



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[FX-EURAUD] Early Warning – Potential Double Top – Update

This is an update of the post from last night on the potential Double-Top forming on EURAUD. I woke up the morning after the Triangle breakout short and I must confess…. it does not look good! But, the market decides our fate and we have to accept that. It is part and parcel of this […] http://ifttt.com/images/no_image_card.png



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[FX - EURAUD] Early Warning – Potential Double Top

Looking at the weekly chart of EURAUD, there could be a potential Double Top chart pattern forming. Current price action is also at significant resistance zone. On the Daily Chart the Double Top Chart Pattern is more obvious. If we zoom in to the H4 Chart, price has consolidated into a Symmetrical Triangle Pattern, which […]



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