This currency pair is testing some solid support at the 1.500-1.4800 area. Lets look at what might transpire from an eventual failure of that support. Here is the monthly candle chart (10 years). The arrow would be the measured move added to the breakout line in case of a solid monthly close under it. The weekly […]
A bullish opportunity might be in the works for the us dollar against the Chinese Yuan. A nice 2 year base with a break line around the 6.2750 area. Check out the monthly candle chart (only 2 years of data). The weekly candle chart shows the approaching test of that important resistance. Here is the […]
When we look at daily and smaller time frames, we often don’t see the “bigger” picture. To demonstrate this, I’ll use the usd/cad currency pair. I’ll also start from the “micro to macro” in order to zoom out the action. Here is the daily time frame on a yearly chart. If I only looked at […]
This stock has been rapidly getting attention for the past week, so I decided to see if it passes my test to get the A+ setup grade! Here we go. The is a 7 year base on the monthly candle chart and that makes for a huge cup and handle classical chart pattern. The implied measured […]
Well, just in my previous post about Eli Lilly and Company the makers of the popular medication Cialis, the same cup and handle classical chart pattern is present. And both setups have consolidation/continuation patterns, with Starbucks breaking out! Check the monthly candle chart (10 years). The longer term implied measured move target is 105. A closer […]
I heard there were some takeover rumors for Blackberry? Who knows how that is going to pan out. But there is definitely some potential in the price action of the stock. A year and a half bottom formation is well set. Check this chart school explanation of “ascending triangles”. The implied measured move if the breakout […]
Okay, enough puns. LLY is trending along nicely from a huge base formation and there might be a continuation play possible. The 6 year base (cup and handle) as shown with the monthly candle chart below has broken out I early 2014. The weekly chart now shows some congestion along the way. If resolved to […]
This is another example where is be best to wait for the monthly close (or at least weekly close) before entering the trade. Check this previous demonstration. The Sterling tried recently to breakout of a 1 year bullish rectangle. Check out the monthly candle chart (10 years). An immediate measured move to 1.95 if the […]
Here is an ongoing example with eurhuf to demonstrate how a monthly candle chart would of saved me some whipsaws and an unnecessary loss on my ledger. I’m going to use a “bottom to top” approach to better illustrate how this trap would of been avoided with a breakout confirmed only with a monthly candle close above […]