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Strategy Contest – September 2023 - Article

In this article, I will talk about technical analysis patterns in theory and practical examples. The study of these patterns helps us in the development of any strategy. In particular, they are very helpful in optimizing overbought and oversold strategies (like my contest strategy). These patterns can be used as trade confirmation of an overbought / oversold signal.
Looking for patterns in financial time series is the key objective of a technical analyst. These patterns are indicative of reversa…
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Strategy Contest – July 2020 - Article

In this article, I will talk about technical analysis patterns in theory and practical examples. The study of these patterns helps us in the development of any strategy. In particular, they are very helpful in optimizing overbought and oversold strategies (like my contest strategy). These patterns can be used as trade confirmation of an overbought / oversold signal.
Looking for patterns in financial time series is the key objective of a technical analyst. These patterns are indicative of revers…
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EURUSD BROKE BELOW NECKLINE OF H&S PATTERN

TECHNICAL TOOLS
Resistance and support lines, Trendlines, Price action, Candlestick Pattern, MACD, RSI, Simple Moving Average and Stochastic Fast Indicator. Charts are analyzed from the Dukascopy4 trading platform.
EURUSD Weekly Chart
  • The MACD on the weekly chart is in the negative zone and falling.
  • The RSI is falling.
  • The Stochastics is also falling.
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EURCAD to trace head and shoulder pattern?

EURCAD is now tracing a head and shoulder pattern. The pattern is not yet confirmed until the pair breach and breakdown.
Important levels to watch:
1.6154
1.5674
1.4926
1.4453
Day Chart
Week Chart
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GBPCAD traced a head and shoulder pattern

GBPCAD has traced a head and shoulder pattern. The pair is bearish and will continue to fall. 1.64 and 1.58 are major support area.
Day Chart
Week Chart
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NZD/USD will move up further

NZD/USD is likely to move up further towards the resistant level of 0.7549.The pair has been moving up after tracing a reverse head and shoulder pattern.
Major support and resistant lines are
0.7549
0.7426
0.7331
0.7166
0.7057
0.6829
Day Chart
Week Chart
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mrlfx avatar
mrlfx 20 Feb.

mrlfx avatar
mrlfx 20 Feb.

NZD/USD is trending up as predicted. The pair is likely to move up towards the upper line of the range box.

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AUD/NZD will consolidate

AUD.NZD had formed a head and shoulder pattern which is very bearish. But if the pair can't fall fast, it is likely to consolidate.
Major Support and Resistant Levels are
1.1279
1.1160
1.1022
1.0849
1.0590
1.0375
Day Chart
Week Chart
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AUD/NZD formed a head and shoulder pattern

AUD/NZD has formed a head and shoulder pattern. The p[air has breached the neckline and will move further down towards 1.037 support level.
ADX9 in day chart is at 27 and signal strong trend.
Major Support and Resistant Levels are
1.1293
1.1132
1.0854
1.0609
1.0386
Day Chart
Week Chart
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Has NZD/USD traced a inverted head and shoulder Pattern?

NZD/USD is probably going to trace an inverted head and shoulder pattern. The price is currently inside the zone between shoulder and neckline. Once the price move past the neckline, it will be confirmed. If price move below the shoulder, the pattern is invalidated.
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AUD/NZD is in correction phase after tracing 5 elliotwaves

AUD/NZD has completed tracing the 1-2-3-4-5 Impulsive Elliot Waves. The pair could trace out a head and shoulder formation.
SMA200 in day chart is below the current price and rising.
ADX in day chart is at 17 is trend is uncertain.
Major Support and Resistant levels are
1.1286
1.1147
1.0995
1.0826
1.0623
1.0378
Day Chart
Week Chart
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