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USD/JPY – Watch for Triangle Break
Price action on USD/JPY (a daily chart of which is shown) as of Wednesday (2/02/2011) has continued its converging triangle consolidation that has been in place since the 80.20 15-year low was hit in...
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AUD/USD – Triangle Consolidation
Price action on AUD/USD (a daily chart of which is shown) as of Thursday (2/24/2011) has extended a triangle consolidation pattern that has been in place since the 1.0250 long-term high was hit at the...
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USD/JPY – Large Triangle
Price action on USD/JPY (a daily chart of which is shown) as of Thursday (3/03/2011) has bounced off the bottom of a large extended triangle formation originating from the early November 15-year low...
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AUD/USD – Triangle Break to Parity
Price action on AUD/USD (a daily chart of which is shown) as of Wednesday (3/10/2011) has tentatively broken down below a key triangle consolidation pattern that extends back to the 1.0250 area...
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USD/JPY – Bearish Break of Triangle Reaches Lower
Price action on USD/JPY (a daily chart of which is shown) as of Tuesday (3/15/2011) has dropped substantially to breakdown decisively below a triangle consolidation pattern that has been in place since...
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Momentum Trading 101: AUD/USD Breaks Through Ascending Triangle
The 240-minute chart of the AUD/USD has broken through the resistance of an Ascending Triangle. Ascending Triangles are made up of a more horizontal resistance level and a the support of an uptrend...
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GBPJPY Forming Massive Descending Triangle
I’ve never seen one so big, but it’s been 3 years in the making and could mean further weakening of the GBP against the Yen if this pattern is ever realised. As seen in the following long-term chart...
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EURCAD Ascending Triangle – Short Term Trade
On a two-hourly chart the EURCAD is forming a nice ascending triangle for a LONG trade. Resistance can clearly be seen at 1.4240-1.4250 so a successful 2 hour close above 1.4260 could see fulfilment of...
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USD/JPY: Where From Here? My Best Guess a Triangle Pattern in Play…Then Higher
Quotable I got a random tattoo the other day. It’s a red triangle, which makes everyone think I’m arty, which I’m not. I used to draw red triangles all the time. It must mean something – maybe I don’t...
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Ascending Triangle – EURJPY
Similar to our story on the bullish pennant flag for the USDJPY we have similar activity happening with the EURJPY (see what did I say about the forex market being like a cluster?). EURJPY forming...
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