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FALSE BREAKOUT FOR USD CAD ?

DaddyPapi Posted 21 Mar.  in #Trader's blog #Consolidation #Daily Chart #Candle #False Breakout
The USD CHF had given us a strong bearish signal to break Support of the large Daily Chart Pennant, only to disappoint by breaking out for a short distance before now being set to return inside the consolidation. With the USD CAD giving a similar, but bullish signal this week, will we see a similar pullback or a large profitable breakout?
USD CHF-DAILY CHART
There was an initial signal followed by a sharp U-turn then a brief breakout of only 140 pips-small in comparison to the size of the Pennan…
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AUD JPY SETUP

DaddyPapi Posted 17 Dec.  in #Trader's blog #Breakout #Consolidation #Candle
The Daily Chart has just broken the Support of its large range with a bearish candlestick. This indicates the start of a sharp downtrend breakout that could take the pair to 88.00 in the next few days. The Range is defined by the Resistance at 94.17 with Support at 92,30.
This Range is also the Right Shoulder of a Head and Shoulders pattern seen on the Daily Chart. The Left Shoulder was formed at the Resistance 94,47 on September 19, 2013 and the Head at Resistance 95,67 on October 22, 2013
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