Thread: Chart Patterns

UJ medium term and long term (months)
UJ on daily formed a double leading M creation now if we look at that on a weekly basis might be the disadvantage movement to start creating the other half of the W? Given the demand levels down there around the weekly we could see prices push up over the next few months once it reaches those demand levels so basically I am looking at an M pattern in a W pattern
charts below will show it more clear the M pattern might need to break that demand zone though (daily chart) in order to reach the lower stronger demand amounts on the weekly.
Again guys this is just what I am speculating using patterns and key amounts I am not saying this will happen 100% as you notice somethings do not workout AUDCAD for example.

Dual top (M) in supply zone?
Greater than likely going to drop especially with that other supply zone The item on here is that the very first zone together with the double top in continues to be tested twice now I love to exchange first evaluation so typically I'd pass but given there's a double top in supply I am more interested the zone above was tested once it could possibly be tested again price was just 30pips away from touching it that given the ATR to a market 30pips is nothing (unless it's merging)
and again with the larger analysis I'm looking for price to finish the W as formerly noticed. We'll see. I also had a cup pattern drawn on the chart now if this plays out that cup pattern will end up somewhat feeble but still affirmed.

Here is the cup, if the demand level retains on the creation of the M we're on to your cup to play if it dosent then we're looking at the W playing out.

Please don't hesitate to add to this journal guys!!!!

Interesting thread!

Originally Posted by ;

Interesting thread!

Cheers friend I had a quick peek at yours also!