By admin on 11/06/2010
Price action on AUD/USD, a daily chart of which is shown, has been displaying the potential for a double-bottom low pattern established earlier in the week just below the 0.8100 support region. Of course, this potential trend reversal pattern will not have been realized unless and until price breaks out significantly above the 0.8550 price [...]
Posted in Forex Master | Tagged audusd, bottom, double, pattern, potential
By admin on 03/06/2010
As a person ages, skin care takes on a whole new design. Now, we’re suddenly concerned about fighting wrinkles, fine lines and crows feet, among others. Skin starts to lose the elasticity it once had. The inner layer of skin starts to thin, and fat cells underneath the skin begin to diminish. Wounds are slower [...]
Posted in Forex Master | Tagged and, bottom, care, line, skin, the, wrinkles
By admin on 31/05/2010
Price action on EUR/USD, a daily chart of which is shown, has established a rough and tentative double bottom low in the 1.2140-50 price region. This has established a strong support level to watch for any breakdowns within the context of the strong current downtrend. Any breakdown of this key double-tested price region should target [...]
Posted in Forex Master | Tagged bottom, double, established, eurusd, support
By admin on 13/04/2010
Gbp rallied on general sentiment, and moving above strong resistance area, 1.5380 zone, where we have the neckline of the daily double bottom in the pair. Zone is our first support for next hours. I do believe that even a spike to 1.5330, next support area, won’t be harmful to this new borrn trend, if [...]
Posted in Forex Master | Tagged above, bottom, double, gbpusd, line, neck
By admin on 03/04/2010
Price action on GBP/USD, a daily chart of which is shown, has displayed five consecutive days of significantly bullish price bars following the double-test bounce off support just below 1.4800 late last week. In the process of this bullishness, price currently appears to be targeting resistance around the peak of the potential double-bottom formation, which [...]
Posted in Forex Master | Tagged bottom, bullishness, continues, double, gbpusd, peak, targeting
By admin on 08/03/2010
Student’s commments:
Here are my entry and stop levels on this trade.
Stop level, blue line at 128.515
Entry level, gray line at 140.602
Read More Stop Placement Double Bottom
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Posted in Forex Master | Tagged bottom, double, placement, stop
By admin on 04/10/2009
Price action on USD/JPY, a daily chart of which is shown, continues in its bearishness despite having earlier in the week bounced up off a new 8-month low around 88.20 with a clear hammer candle. This hammer candle descended all the way down to the bottom border of a rough parallel downtrend channel (it is [...]
Posted in Forex Master | Tagged bearishness, bottom, channel, continued, towards, usdjpy
By admin on 03/09/2009
Price action on EUR/USD has recently been in a continuing consolidation within the context of two parallel uptrend channels. The larger of the two channels extends from the beginning of the year, while the smaller one extends from early June. Currently, price has found some support near the bottom portions of both these channels, and [...]
Posted in Forex Master | Tagged bottom, channels, consolidating, eurusd, near, of, two, uptrend
