Showing posts with label ascending triangle. Show all posts
Showing posts with label ascending triangle. Show all posts

Wednesday, 23 July 2014

GBPJPY Long. Trade of the month

I'd put this GBPJPY trade into my 'trade of the month' category. With price breaking out of an ascending triangle and currently retracing the breakout level of 172.788, the upside target is 180.788.

GBPJPY - Renko Trade Idea
The stops for this long position comes in at 170.288. Mind you, this trade will take months to be cleared, so unless you have patience, do not even think about this trade. Its one of those 'set it and forget it' trade ideas.

Wednesday, 4 June 2014

GBPJPY - Inverse H&S with Asccending Triangle

In this chart, the inverse head and shoulders hints to a continuation pattern combined along with an ascending triangle just to the right shoulder.


GBPJPY - Inverse H&S + Ascending Triangle
From the chart, with the ascending triangle, the target comes in at 175.368 with stops at 168.94 followed by the larger H&S target of 179.45.

A pending buy order at 172.1 or 171.288 could be ideal.

CADJPY - Follow up to Long trade

This is a continuation of my previous post here.

After a few hiccups, price seems to be slowly treading along to the upside. The target is towards 95.536, which seems to be a very deep correction to the actual downtrend. Nothing much has changed to the analysis, I just added the Median Line to gain perspective.

CADJPY - Renko Chart, Long Position
An alternate view from ATR's Renko settings shows a double bottom that was just broken upwards, targeting 95.6.

Bullish CADJPY, Alternate View

Tuesday, 13 May 2014

CADJPY - Buying the ascending Triangle

I hope... and I hope this will be a quick trade. A nice ascending triangle was formed on CADJPY renko and the resistance was broken, tested and this pair looks ripe heading towards 95.536.

CADJPY - Renko, Ascending Triangle