Tag Archives: Triangle breakout

Aussie Dollar hits key support

Many technical analysts have been waiting a long time for the Aussie chart to return to its long term triangle support. Last night was the night. What happens from here could set the medium term outlook for Aussie.

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Copper Triangle

Copper broke below the triangle support line triggering entry on the sell strategy I discussed in a post last Friday 1 March. No warm inner glow of anticipation from a big initial move here. At this stage, the market is hanging … Continue reading

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Copper – Sell on break below triangle support

Copper’s steep decline over the past 2 weeks has brought it to a critical level. A clear move below trend line support here would mean a break out of a well established triangle. Weakness in the Asian session today puts a break during the London … Continue reading

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AUD: NZD – Double Top

This chart has been drifting for a couple of days after a sharp rally last week. Although it may be a bit too soon to place a label on the pattern formed by recent sideways action, it’s starting to look like one of … Continue reading

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Silver – Strategy Update

Back on 8th August, I posted details of a bullish triangle set up in silver. Traders who kept this setup on their watch list were rewarded last night when silver broke through resistance with a strong “wide range” candle.

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Platinum – setup for a stronger Euro

Like gold, platinum peaked above $1900 per ounce last year but has fallen a lot further since. While gold is currently at $1618, platinum is at $1413. This reflects a much greater industrial component in the demand for platinum compared … Continue reading

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GBP:USD – Positioned for a big move

We have seen some very big moves in markets since the GFC. If things continue as they are in Europe, there is every chance we will see more. This situation has created some great opportunities for big picture traders willing … Continue reading

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EUR: USD – Triangle Setup

Since peaking in late February, the Eurodollar chart has formed a descending triangle pattern. The Eurodollar chart provides a number of clues to suggest that the January/February rally has more chance of being a corrective upswing than the start of a … Continue reading

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Trading Insights – S&P/500 breaks to the downside

Hi everyone, today I am taking a look at the fall in the main US index overnight tracking a setup that we have been stalking throughout the week.

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