Patterns with Examples (Part I): Multiple Top Contents AbstractAbout the reversal patternsWhy Multiple Top — its specific featuresCan the Double Top concept be extended?Writing code to render Multiple Top Class mapIdentifying tops and bottomsSelecting tops to work withDetermining the pattern directionFilters for discarding invalid patternsChecking the result in the MetaTrader 5 Strategy Tester visualizer ...
Table of Contents IntroductionThe differences between the Pennant and the TriangleHorizontal PatternContracting TriangleExpanding TriangleA universal indicator to search for the Horizontal Pattern and TrianglesA universal indicator to search for the Flag, the Pennant and the WedgeTester IndicatorConclusionAttachments more...
"The Euro may be carving out a top below the 1.11 figure against the US Dollar having rebounded as expectedafter last month’s ECB policy meeting. Prices appear to be carving out a bearish Head and Shoulders chart formation, although confirmation of the setup is still pending for now.""A daily close below the 1.0777-1.0818 area marked by the May 27 low and the 23.6% Fibonacci expansion clears the way for a challengeof the 38.2% level at 1.0602. ...
USD/JPY Weekly -The below chart displays a yearly (each bar is 1 year) USD/JPY log chart. Remember, huge reversals have materialized in years that end in 5. A top formed following the last 3 year rally (1994-1996). 12 month rate of change exhibits divergence and the top in June was at the line that connects the 1990 and 1998 highs. Finally, a yearly doji may form for 2015 (a lot to be decided next week). Shorter term, this week’s ...
US DOLLAR TECHNICAL ANALYSIS – Prices aredigesting gains near a five-year high but negative RSI divergence casts doubt on immediate follow-through. A daily close above the 38.2% Fibonacci expansionat 11577 exposes the 50% level at 11648. Alternatively, a reversal below the 11489-522 area marked by the December 8 top and the 23.6% Fib opens the door for a challenge of the 14.6% expansion at 11434. ...
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