Figure
A rebound is expectedAt the moment, we see on the chart that the pair can not overcome the level of 1,1730 and fluctuates in a certain range. We can consider passing the level of the lower boundary as an upside-down "head and shoulders" figure , and peaks regarded as the formation of a "double top". Therefore, given the figurative configuration, we expect a downward movement in the pair.
We advise you to look for points to enter short positions. Our technical indicators indicate an early sale and if we do not hear any serious statements that are able to turn the market, then we expect a retreat from the level of 1.17 to the level of 1.1625
GBP/CHF - Do you see a reversal pattern ?!According to our pair, there are a lot of publications and articles claiming that we are seeing a downtrend and the price is in correction.
If we consider our technical indicators, then on the MACD histogram we will really see that we have come out of the histogram and at the moment we have a signal to sell the pair. When we look at Stochastic on a 4-hour chart, we see a rise on the contrary. Because of that these indicators do not give any clear signal at the moment.
However, if we go down and look at the 1-hour chart, then we can see the formation of the figure "Double Inverted Peak", which looks like an inverted "Head and shoulders" 4-hour chart.
These figures are reversal, so it would probably be best to wait for the price to move upwards and expect the price to advance to the level of 1.31. Then we can consider the further behavior of our quote.
TWTR Bearish bat pattern and 24 fig combinationTWTR rallied 2 days in a row after its 3Q result.
I'm not trying to pick the top, this trade is more for a long position to take profit than opening a short position.
There is a daily bat pattern in front of the 24 fig, which probably has lots of sell limit order there.
If there is a reversal sign near 24, I believe it's a good idea for the bull to take some profit!
USDCAD EASY CHART PATTERN TOOLUSD/CAD is bullish by the way ;) By using the Point & Figure Chart can easily help you make easier decisions on finding support and resistance. As you can see on the 60m chart for USD/CAD the pattern along with price movement breaking out can't get more prettier to look at. If you are new to Point & Figure Charts I would suggest doing some homework. They can be very helpful.
