Forex Falling Wedge Chart Pattern:
Forex falling wedge chart pattern is a bullish pattern. This is similar to the rising wedge but it occurs in a down trend. Like the rising wedge falling wedge pattern also consists of two trend lines joining the low and high points which converge.
Check the following picture. In the following picture [...]
Forex Rising or Ascending Wedge Chart Pattern:
Forex rising wedge chart pattern is generally a bearish pattern. This pattern consists of two trend lines joining the low and high points but they converge. They are not parallel to each other or away from each other but converge together so that if you extend them they meet [...]
Forex Reverse Head and Shoulders Pattern:
Forex reverse head and shoulders pattern is similar to the normal head and shoulders pattern but it forms in a down trend and in the format. This is a bullish pattern. This indicates a reversal after an down trend.
In the following picture a head and shoulders pattern is shown. The [...]
Forex Head and Shoulders Pattern:
Forex head and shoulders is a technical pattern that resembles the two shoulders and the head of a humanbeing. This is a bearish pattern. This indicates a reversal after an upward trend. This is a more common pattern in long term trends. The head and shoulder pattern consists of three peaks [...]
Forex Double Bottom:
Forex double bottom is a bullish pattern. It indicates a reversal after a downward trend. It is very easy to identify.
1) First there will be sharp downtrend.
2) Now the price rises agin creating the first low point
3) Now the price falls again to the first low point creating a first high point.
4) Now [...]
Forex Double Tops:
Forex double tops is a bearish pattern. It indicates a reversal after a strong upward trend. It is very easy to identify.
1) First there will be sharp uptrend.
2) Now the price falls creating the a first high point
3) Now the price raises again to the first high point creating a first low point.
4) [...]
AUDNZD ascending wedge:
The following is the four hour chart of AUDNZD. It was in an ascending wedge for some tome and it was broken two days back. I was watching both four hour chart and hourly chart and when it was broken in hourly chart, it retraced back to the trend line. When it retraced [...]
Forex Descending Triangles:
A descending triangle is a bearish pattern used in technical analysis and can be easily recognized. To say a pattern as a descending triangle it should have flat lows and lower highs. That means it should have a horizontal support line at the bottom and a descending trend line at the top. Descending [...]
Forex Ascending Triangles:
An ascending triangle is a bullish pattern used in technical analysis and can be easily recognized. This is usually a pause during a longer trend. To say pattern as an ascending triangle it must have flat highs & higher lows. That means it should have a horizontal resistance line at the top and [...]
Symmetrical Triangles:
Symmetrical triangles are very common forex chart patterns. These represent a period of indecision. Symmetrical triangles are usually considered as a continuation of overall trend. A symmetrical triangle should contain at least two lower highs and two higher lows. When you see these higher lows and lower highs and join them a symmetrical triangle [...]
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