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Strategy Contest – July 2020 - Article

sircris Updated 23 Aug.  in #Patterns #Double Bottom #Head And Shoulders Pattern #Strategy Contest #Ascending Triangle #Inverted Head And Shoulders #Double Top #Triangle Pattern #Flag Pattern #Reversal Patterns
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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EUR/CAD is likely to fall

mrlfx Posted 1 Feb. as Analysis on EUR/CAD, Target: 1.4731, Date: 2nd of April, 12:00 GMT  in #Technical analysis #EUR/CAD #Ascending Triangle #Support And Resistance
EUR/CAD is tracing an ascending triangle which is a bearish pattern. The pair is likely to breach the lower line of the triangle and fall towards level of 1.4478.
Support and resistant levels are
1.5411
1.4823
1.4478
Day Chart
Week Chart
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USD/CAD traced an ascending bearish triangle

mrlfx Posted 5 Dec.  in #Trader's blog #Ascending Triangle
USD/CAD has traced an ascending triangle pattern which is a bearish chart pattern. The pair is falling downwards. It likely to fall towards the support level at 1.2440.
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USA Tech Index just breakout from a traingle Pattern

mrlfx Posted 3 Dec. as Analysis on USATECH.IDX/USD, Target: 6664, Date: 1st of February, 12:00 GMT  in #Technical analysis #Ascending Triangle #Sma200 #Elliot Waves And Fibonacci Retracement #Usatech IDX/USD #Sma50
Chart Analysis
USA Tech Index just breakout from an ascending triangle pattern. The index is expected to further move upside.
Indicators Readings
SMA50 and SMA200 in day chart are below the price and rising.
ADX9 in day chart is at 28 and shows strong trend.
Fibonacci expansion Levels are
100% (6657.06)
61.8% (6500.14)
Fibonacci Retracement Levels are
0% (6420.56)
23.6% (6323.60)
38.2% (6263.64)
50% (6215.16)
61.9% (6166.69)
100% (6009.76)
Day Chart
Week Chart
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USD/CAD is bullish and rising inside a triangle

mrlfx Posted 19 Nov. as Analysis on USD/CAD, Target: 1.3056, Date: 2nd of January, 12:00 GMT  in #Technical analysis #USD/CAD #Ascending Triangle #Elliot Waves And Fibonacci Retracement #Sma50
USD/CAD is moving inside an ascending triangle. The pair is also tracing the wave 5 of the 1-2-3-4-5 Impulsive Elliot Waves. The pair is currently at 50% (1.2927) fibonacci level.
The Fibonacci Retracement Levels are
100% (1.3793)
61.8% (1.3131)
50% (1.2927)
38.2% (1.2722)
23.6% (1.2469)
0% (1.2061)
Daily Chart
Weekly Chart
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GBP/JPY will likely break out

mrlfx Posted 27 July  in #Trader's blog #Ascending Triangle #Support And Resistance #Waves Study
GBP/JPY is currently tracing a ascending triangle pattern. The pair once breach the triangle could breakout and could test resistant level at 162.90.
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EUR/AUD is bullish

mrlfx Posted 9 July as Analysis on EUR/AUD, Target: 1.5604, Date: 1st of September, 12:00 GMT  in #Technical analysis #EUR/AUD #Ascending Triangle #Support And Resistance #Elliot Waves
EUR/AUD is bullish. The pair is tracing a ascending triangle pattern. The pair is also at the wave 4 of the 5 emotive elliot waves.
Major Support and Resistant Levels are :
1.5630
1.5175
1.4680
1.3985
1.3650
Daily Chart
Weekly Chart
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AUDCAD is likely bullish short term

mrlfx Posted 8 June  in #Trader's blog #Ascending Triangle #Support And Resistance
AUD/CAD is tracing an ascending triangle. It likely will rise and test 1.036 to form the triangle and then fall.
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8 DEC 16 | GBPUSD | SELL SETUP EXECUTED

killer195175 Updated 8 Dec.  in #Trader's blog #Gbpusd #Sell Signal #Ascending Triangle
Hello fellow traders,
Our GBPUSD setup discussed on 4 Dec 16 has been executed and the pair has shed more than 200 pips from the level of confluence of resistance. A close below the trend line is required to see previous low of 1.19198
DAILY CHART
4 HOUR CHART
I expect the pair to reach 1.2520 before it finds the support and some profit taking may happen there which may result in rising up to touch the horizontal line again where we may witness a big sell off again. Well, this is just a speculat…
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TInna avatar
TInna 9 Dec.

very good!

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6 DEC 16 | AUDUSD | A GOOD SELL SETUP

killer195175 Posted 5 Dec.  in #Trader's blog #Resistance #Audusd #Ascending Triangle
Hello fellow traders,
From the chart of AUDUSD we can clearly make out the formation of an ascending triangle pattern and the horizontal which was previously support may act as strong resistance and the pair may be sold there with tight stop loss just above the resistance zone.
Any comments about the setup are welcome.
Happy trading to all.
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galjasen avatar
galjasen 7 Dec.

Happy trading to you ,too.

TInna avatar
TInna 9 Dec.

good luck:)

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