Forex Rectangle Patterns:
A forex rectangle pattern is technical analysis pattern consisting of horizontal lines called support and resistance lines. Rectangles are used for channels or Breakout Trades. Generally forex rectangle patterns are considered as continuation patterns. To say a pattern as a rectangle pattern, it should have at least four pivot points two at the [...]
What are chart formations?
Chart formations are naturally occurring patterns in forex trading. These patterns indicate future breakouts in forex trading. If you can identify these patterns you can much better benefit in forex trading as you can identify the break outs. The entire goal is to spot big price movements before they happen so that [...]
The following is the four hour chart of AUDJPY currency pair as of Feb. 18th, around 2 AM EST. If you observe the chart you can see that it was going in an ascending wedge. Now it is also forming a double tops. If the bottom trend line for the ascending wedge is broken with [...]
The following is the four hour chart of AUDCHF as of Feb. 19th, around 12 AM EST. If you observe the chart you can see that it is going in an ascending wedge. It looks like it is breaking the bottom trend line of the wedge. If there is a strong candlestick formed breaking the [...]
The following is the four hour chart of EURUSD currency pair as of Feb. 18 around 11 PM EST. If you observe the chart you can see that it was going in a channel for some time and the bottom trend line of the channel was broken around 4 hours back. So I am expecting [...]
The following is the AUDUSD four hour chart as of Feb. 18th around 1AM. If you observe the chart you can see that it is going in a channel. The channel bottom trend line was broken. So I have entered a sell trade. But I observed it in the hourly chart when it retraced back [...]
The following is the hourly chart of GBPUSD hourly chart as of Feb. 16th, around 2 AM EST. I have drawn two trend line and it formed a symmetrical triangle. It looks like the top trend line of the symmetrical triangle is breaking. There is still 5 more mins. for this candlestick to be completed. [...]
The following is the hourly chart of USDJPY as of FEB 16th., around 1 AM. There is around 5 Min. more to complete the hourly candlestick. If you observe the chart it looks like the channel is breaking in the downward direction. After the completion of this hour if the candlestick is still a strong [...]
The following is the GBPUSD hourly chart as of FEB. 15th, around 3PM EST. I have drawn two trend lines one at the top and another at the bottom and you can see that it has formed a symmetrical triangle. The triangle might be broken at any time. If the triangle is broken with a [...]
The following is the USDCAD hourly chart as of FEB. 15th., around 3 AM EST. If you observe the chart you can see that it is going in a downtrend. I have drawn two trend lines one at the bottom and one at the top and it formed a symmetrical triangle. It’s not exactly a [...]
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