Download MetaTrader 5
To add comments, please log in or register
Deposit to your account via PayPal
Lahcene Ouled Moussa
Lahcene Ouled Moussa 2015.08.15 11:27 
Here’s another triangle pattern on a commodity currency, this time on AUD/JPY’s 1-hour forex chart. The pair has been forming higher lows and hitting resistance somewhere around 92.00-92.50, creating an ascending triangle pattern. Price seems to be on its way to the top of the triangle, which might continue to hold as resistance since stochastic is already approaching the overbought level. In that case, another move back to the triangle support near the 91.00 major psychological level might take place. If you’re thinking of shorting at the triangle resistance, better wait for stochastic to turn from the overbought zone and for reversal candlesticks to form. Oh, and don’t forget to set your stop past that spike to 92.72, too!

Read more:
Ascending Triangle -
An Ascending Triangle is a price action formation signal based on continuation pattern theory. Continuation patterns also include symmetrical triangles, descending triangle], wedges, flags, rectangles and pennants and are essentially technical patterns that are expected to lead to the continuation … Continue reading →
To add comments, please log in or register