Saturday, November 6, 2010

USDCHF H1 - reversal pattern

1-2-3 reversal pattern in uptrend
1. trendline break
2. pullback
3. cannot make a new high
4. price break previous support. reversal is confirmed

1-2-3 reversal pattern in downtrend
1. trendline break
2. pullback
3. cannot make a new low
4. price break previous resistance. reversal is confirmed




For this case. HNS + triangle combination. The market hit both price projections!!

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