Chart Pattern forming - possible trade opportunity?

Hi everyone,

I thought it might be handy to have a thread where trader's can post possible chart patterns in the making i.e. head & shoulder's, double tops, pennants, rectangles, elliott waves, wedges etc. Candlestick patterns are also welcome. Let's make some pips together.

Peace out

Let me get the ball rolling with the following double top pattern;



If price crosses the neckline then it should continue further down. However given the brexit situation who knows. Its a solid pattern nonetheless I think.

Here's a possible bearish pennant;



good luck.

yep did you take them? markets' choppy tho.

Hi limzy, I did take them but closed very quickly for a few pips. As you say the market's choppy so didn't want to hang in there too long.

good job masterjedi. i find it useful to take a fraction of the profit as well. the edge i can glimpse from such patterns is the accumulation of orders around them for subsequent breakouts.

Thanks limzy, yes taking a fraction of the price action seems to work. If you know how to enter these trades then you can make a lot of pips I think, although im very new to trading & still learning so please don't take my word for it. I like charts also & would love to spot patterns that might lead to more successful trades. If you find anything intresting please post it if you can buddy.

happy trading

Hello traders. Does anyone else think we're entering wave b on NZD/JPN?