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Forexpositive

EURUSD Triple TopWe missed a short-selling opportunity / entry after seeing the top resistance level reject price for the 3rd time, forming a triple top. According to Encyclopedia of Stock Charts, the Triple Top has a 77.59% success rate (to reach green box) We are looking for a bounce inside that green box / supply zone / strong support, where we will open a long to top of triple top. There is another opportunity, which is trading the resistance breakout and riding the inverse head & shoulders from head to neckline (breakout level).
by JCBCrypto
CADCHF Falling Wedge ReversalFalling Wedge formed from Feb 1st to Feb 20, testing the bottom 3-4 times and the top 5-6 times, proving validity. Buying breakout of orange resistance level. Falling Wedge The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout. Bullish confirmation of the pattern does not come until the resistance line is broken in convincing fashion. It is sometimes prudent to wait for a break above the previous reaction high for further confirmation. Once resistance is broken, there can sometimes be a correction to test the newfound support level. While volume is not particularly important on rising wedges, it is an essential ingredient to confirm a falling wedge breakout. Without an expansion of volume, the breakout will lack conviction and be vulnerable to failure. from: stockcharts.com
Long
by JCBCrypto