Autochartist PowerStats give traders access
to statistical information on the occurrence of consecutive
bullish bars. This can be used to help estimate likely bullish
movement for selected currency pairs. Historical data for various
currency pairs is shown in the bar chart (1) above. Chart (1)
shows that the JPY coupled currency pairs have the highest
occurrence of having 4 consecutive bullish bars in a row and that
EURAUD and EURCHF have the lowest. This is demonstrated in the
complete EURJPY continuation triangle chart pattern (2) taken from
the 15M chart. Bullish bars are indicated in green. From left to
right, consecutive bars in sequence total as follows: 2, 5, 3, 6,
2, 5. Overall, the sequences average 4 consecutive bars in a row.
Traders wishing to take advantage of this information could have
used it to estimate that the price after 07:45 for example would
continue to be bullish in line with the PowerStats data indicated
on (1).
To access PowerStats for this and other data,
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Disclaimer:
Autochartist, MDIO Software, agents and resellers of Autochartist
services do not guarantee the completeness, accuracy or timeliness
of the information supplied. Users of this service should take
independent decisions regarding any securities or financial
instruments mentioned herein. Trading involves considerable risk:
therefore, before trading you need carefully reflect on your risk
appetite, investment objectives and level of experience. Do not
invest money you cannot afford to lose. Past performance of
strategies is not indicative of future performance.
These two USDCAD patterns present different
time frames, but reflect the same probable outcome for the short
term. Pattern 1 is an emerging continuation channel taken from the
240 minute time frame. It shows a spectacularly strong
downtrending support line (A). Even though the probable direction
of completion indicated on the pattern is upwards, the last few
candles on the channel show the price returning yet again in the
direction of the support line (A). Pattern 2 is a completed
continuation triangle from the 15 minute time frame that broke
through its resistance line (B). The last candle at the end of
the completed triangle (2) is below the resistance line (B),
suggesting the same downwards movement as at the end of channel
(1) and the probable continuation of its downwards trend in the
short term.
Disclaimer:
Autochartist, MDIO Software, agents and resellers of Autochartist
services do not guarantee the completeness, accuracy or timeliness
of the information supplied. Users of this service should take
independent decisions regarding any securities or financial
instruments mentioned herein. Trading involves considerable risk:
therefore, before trading you need carefully reflect on your risk
appetite, investment objectives and level of experience. Do not
invest money you cannot afford to lose. Past performance of
strategies is not indicative of future performance.
As long as 1.275 is not broken down, we favour
an upmove with 1.374 and then 1.413 as next targets.
Story:
Our
pivot point stands at 1.275.
Our preference: As long as 1.275 is not broken down, we favour an
upmove with 1.374 and then 1.413 as next targets.
Alternative scenario: Only the downside breakout of 1.275 will
invalidate our bullish scenario. In this case, a decline should
shape towards 1.24 at first, and then 1.2.
Comment: Daily indicators are rebounding.
Trend: ST limited rise; MT range.
Supports and resistances:
1.45 **
1.413 **
1.374 **
1.3575 last
1.275 **
1.24 **
1.2 **
The top pattern (1) is a USDJPY continuation channel in the 60
minute chart showing a steady upwards trend over the past week.
The question is, how long will the upwards trend last? Well, if
this bullish pattern completes, the price will be moving from its
present position below 99.08 to above the resistance line (A) in
the direction of 101.08. The possibility of this upwards movement
is supported by the bottom pattern (2), an upwards channel taken
from the USDJPY daily chart. The second channel also indicates a
probable movement above its resistance level (B), towards 103.30.
Disclaimer:
Autochartist, MDIO Software, agents and resellers of Autochartist
services do not guarantee the completeness, accuracy or timeliness
of the information supplied. Users of this service should take
independent decisions regarding any securities or financial
instruments mentioned herein. Trading involves considerable risk:
therefore, before trading you need carefully reflect on your risk
appetite, investment objectives and level of experience. Do not
invest money you cannot afford to lose. Past performance of
strategies is not indicative of future performance.
As long as 1.275 is not broken down, we favour
an upmove with 1.3485 and then 1.374 as next targets.
Story:
Our
pivot point stands at 1.275.
Our preference: As long as 1.275 is not broken down, we favour an
upmove with 1.3485 and then 1.374 as next targets.
Alternative scenario: Only the downside breakout of 1.275 will
invalidate our bullish scenario. In this case, a decline should
shape towards 1.24 at first, and then 1.2.
Comment: The immediate trend remains up but the momentum is weak.
Trend: ST limited rise; MT range.
Supports and resistances:
1.413 **
1.374 **
1.3485 **
1.3218 last
1.275 **
1.24 **
1.2 **
As long as 1.275 is not broken down, we favour
an upmove with 1.3485 and then 1.374 as next targets.
Story:
Our
pivot point stands at 1.275.
Our preference: As long as 1.275 is not broken down, we favour an
upmove with 1.3485 and then 1.374 as next targets.
Alternative scenario: Only the downside breakout of 1.275 will
invalidate our bullish scenario. In this case, a decline should
shape towards 1.24 at first, and then 1.2.
Comment: The daily indicators are turning up and are calling for a
re-test of the 1.374 area.
Trend: ST limited rise; MT range.
Supports and resistances:
1.413 **
1.374 **
1.3485 **
1.3281 last
1.275 **
1.24 **
1.2 **
A reversal head and shoulders pattern (1) has
appeared on the USDCHF 60 minute chart. This indicates the
possibility that a large downwards price movement is about to take
place. (1) was formed first by a left shoulder with its high above
1.160 (A), then the creation of the head with its high just below
1.1750 (B), followed by the right shoulder with a high around 1.160
(C). When (1) completes by breaking through the support line (D) we
can expect to see a drop in price equaling the distance between (B)
and (D), 400 pips downwards from (D). The second possibility is that
of the price returning to the resistance line (E). Pattern (2), a
continuation triangle also on the 60 minute chart, shares the same
support line (D) as that of the head and shoulders. This bearish
triangle confirms the probability of the price moving below (D).
Disclaimer:
Autochartist, MDIO Software, agents and resellers of Autochartist
services do not guarantee the completeness, accuracy or timeliness
of the information supplied. Users of this service should take
independent decisions regarding any securities or financial
instruments mentioned herein. Trading involves considerable risk:
therefore, before trading you need carefully reflect on your risk
appetite, investment objectives and level of experience. Do not
invest money you cannot afford to lose. Past performance of
strategies is not indicative of future performance.
A
rising wedge has been forming in the USDJPY daily chart since the
end of January. This emerging pattern consists of 63 candles and has
high quality readings. The wedge has a strong upwards slant, with
the support line (A) moving towards 97.610 and the resistance line
(B) moving in the direction of 101.610. The price is currently
approaching the support line A. When this bearish pattern completes
and the price breaks through A, watch for a movement towards 94.610
(C). If the price bounces back away from the support line, we can
expect it to remain in the range below resistance line B for the
next 10 days.
Disclaimer:
Autochartist, MDIO Software, agents and resellers of Autochartist
services do not guarantee the completeness, accuracy or timeliness
of the information supplied. Users of this service should take
independent decisions regarding any securities or financial
instruments mentioned herein. Trading involves considerable risk:
therefore, before trading you need carefully reflect on your risk
appetite, investment objectives and level of experience. Do not
invest money you cannot afford to lose. Past performance of
strategies is not indicative of future performance.
