Wednesday, June 27, 2012

EUR/USD - Bullish Gartley, Monthly Chart

Bullish Gartley pattern has formed on Monthly EUR/USD chart.  An Inverted Hammer is almost complete on the monthly chart also.  An Inverted Hammer candlestick is a potential reversal signal, especially on a longer time-frame like the monthly chart.  Control your risk and this could be a very good long-term trade.


Monday, June 25, 2012

Bullish Gartley Pattern, 4-hr EUR/USD Chart

Bullish Gartley has formed on 4-hr EUR/USD chart.  Very nice Symmetry and Bullish Engulfing candlestick pattern.



Thursday, June 7, 2012

AUD/USD Bearish Butterfly - 4-hr. Chart

Bearish Butterfly pattern has formed on 4-hr. AUD/USD chart.  In addition, candlesticks have formed what I call railroad tracks ( two candles side by side with approximately same length and opposite colors ).  CD leg of ABCD pattern is 1.272 x AB leg.  D projection is very close to top of railroad tracks.  The 127.2% extension of XA is around 0.9983, which is close to the recent high of 1.0000.  see chart for full analysis.





Tuesday, June 5, 2012

Bullish Butterfly Pattern - AUD/USD, Daily Chart

Bullish Butterfly pattern has formed on Daily, AUD/USD chart.  Nice candle spike down ( formed a Hammer ).  Profit Target levels on chart.