Kind of a risky play since it was not very clear at first. However, touches were there and the take profit spot was reached as planned. Also, stop loss was placed at the last high, giving us great risk/reward ratio
On the RSI, 80s and 20s line were added in order to filter signals better, avoiding false positives. However, in this sense, the price followed the oscillators signal for overbought and oversold
Even though outcome was not the expected, the formation was clear enough. We count the touches and the price respected the symmetrical limits. Stop loss saved us
We can see how the marked support/resistances bounce the price whenever they are tested. As indicated, there are some of them more respected or confirmed than other. However, price obeys them
Formation of a bearish wedge on the USD/JPY pair 1-day. Even though it is not that inclined we can still see it clearly. Also, the take profit was reached and respected.
Just an example of how two trend indicators can work together for giving buying / selling signals. In both cases that are exposed PSAR showed the signal first, and MAs confirmed.
Clean formation of a double bottom. Previous trend accompanying the pattern and trend reversal as well. In this case, RSI divergence was used for reversal confirmation. The price reached the profit-take spot; however, it found great resistance that could not break at first.
We can clearly see trend reversal, and harmonic pattern formation. 50 and 200 ema were used for confirmation of the pattern. Profit-taking spot was reach fairly quickly and then was used for support for trend continuation
Formation of a trend reversal pattern in Ford Motors (4H). We can clearly see the previous trend accompanying the pattern as well as profit target completion.
Slightly angle inclination in neckline: however, obeying every aspect of the pattern
There is a formation of a bearish trend with at least 3 bearish touch. Also, there is a moving average confirmation of the trend as well as a retest of the trend line after breakup
