AUDJPY, Weekly, potential Bat patternIt's still a way down to the fact that we have a complete Bat pattern here but what one can draw from this conclusion is that we are in a clear downtrend where the Bat pattern's "regular" magnet down to the D point, after we got a closing under B, also helps.
In a lower (time resolution) perspective, you can use this to take trades in the right underlying direction - ie. downwards.
The pattern may be more of a use for "placement traders" but I use it as a travel direction ni my daytrades.
Patterntrading
AMCN FLAG PATTERN BREAKOUTAMCN FLAG PATTERN BREAKOUT
BREAKOUT: 2.77
TARGET: 3.30 (+17%)
POSITIVE MANSFIELD
POSITIVE WMA, PRICE ABOVE.
POSIBLE ACCUMULATION OF SHARES.
GOOD OUTLOOK
UFS DOUBLE TOP PATTERNUFS DOUBLE TOP PATTERN
BREAKDOWN: 47.96
TARGET: 37.43 (-23%)
NEGATIVE MANSFIELD.
NO CPM.
SECTOR REALLY WEAK:
XBJD
Buy the Beakout of the Ending DiagonalHere is the future pattern forming for AUDNZD. It is possible that price may not reach the top of the ascending channel for some time, so watch as price action nears the 1.12100 level.
For the present time, on the lower timeframe, there is an ending diagonal forming indicating price will reverse soon. Buy the breakout or enter at your own risk.