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Channel Up identified at 13-Jan-22:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 81.9410 within the next 3 days. Supported by Upward sloping Moving Average |
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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Channel Up identified at 13-Jan-22:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 81.9410 within the next 3 days. Supported by Upward sloping Moving Average |
Getting to demand zones are also important to make good trades. If you arrive to the demand with large red candles showing panic and fear, you are going to have a bigger move up on the charts. The large red candles signal that traders who wanted to sell has now exited the stock or Forex trade. When buyers step in they must raise their bids quickly to attract a seller who may still be around. If the arrival to the demand zone is quiet, there are still many traders holding the stock who are looking to sell at a smaller loss when the bounce takes place. This added supply will stop the bounce of price from the demand level or support.
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Falling Wedge identified at 13-Jan-11:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.2132 within the next 3 days. Supported by Downward sloping Moving Average |
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Triangle identified at 13-Jan-02:00. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.0868 within the next 3 days. Supported by RSI below 40 |
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Rising Wedge identified at 11-Jan-02:00. This pattern is still in the process of forming. Possible bearish price movement towards the support 116.4635 within the next 2 days. Supported by Downward sloping Moving Average |