Stelian

Stelian

The USD/CAD has had a very strong downtrend since late May and I believe that a correction is in order. The weekly Stochastic gives bullish signals, however the daily one suggest the opposite. From my perspective, the price will most likely drop down to the indicated with red line target and form a double bottom or some sort of trend reversal formation, so until...

Stelian

I find pipe tops a very reliable indicator on a bear trend. Here we see one formed on the channel breakout , that has made a pullback on the day, so I recon it is a good place to enter. The textbook target is market by the red line C, however I personally would have a stop loss and keep track of the currency's movement.

Stelian

Dow chemical formed a pipe top a week ago and during this last trading week, there has been a downward breakout from A. This type of formation is one of the most reliable as it is occurring in a bear market. According to Bulkowski , there is a 41% chance for a pullback to price level A, so this is something to consider as a better entry for a short position...