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DESCENDING CHANNEL
Gold
XAU/USD
1H
It seems like the price sets up a descending channel.
A descending channel is a compelling indicator that often spots a bullish move if price breaks above resistance.
It is not ruled out that a bullish price action to the 4160 mark will occur once above 4150 as bulls seeking a new high.
DESCENDING TRIANGLE
USD/JPY
1H
There is a descending triangle materializing.
A descending triangle can be thought of as a price action pattern that typically indicates that the price will rally further if price breaks out to the the upside.
It is not ruled out that a further rangebound to the 161.8 zone will take place while above 161.55 as door open for a test of 161.8.
SYMMETRICAL TRIANGLE
GBP/USD
1H
There is a symmetrical triangle happening and the price is close to breaking out now.
If price collapses through the support line, the resulting move could spot a bearish price action.
It is possible that a bearish price action towards the 1.32 mark will take place on a breakout of the symmetrical triangle.
ASCENDING CHANNEL
GBP/USD
1H
There is an ascending channel arising, gbpusd needs a steady bearish impulse to confirm a breakdown.
An ascending channel suggests an indicator that can be used to indicate a further move down if price breaks through the support.
It is possible that a bearish price action to 1.32 will happen on a break below 1.322 as the currency pair becomes bearish.
BEARISH FLAG
GBP/USD
1H
A bearish flag arises and the price requires an active move as an information of a breakout.
Once price breaks out to the the downside, the move could signal a further move down.
It is possible that decline towards 1.322 will occur.
ASCENDING TRIANGLE
USD/JPY
1H
There is an ascending triangle determined and usdjpy requires a bigger move for clear breakout confirmation.
Once price collapses through the support line, the resulting move could spot a bearish price action.
Corrective downside towards 161.4 looks possible while lower than 161.55 as usdjpy becomes depressed.
BEARISH FLAG
Bitcoin
BTC/USD
1H
It seems like a bearish flag is almost finished, the price is about to break out now.
A bearish flag is considered to be a specific bearish price action pattern that is angled up that predicts a next move down if price breaks out.
A bearish run towards the 63000 mark looks likely.
RISING WEDGE
Bitcoin
BTC/USD
4H
A rising wedge is close to being complete.
A rising wedge can be thought of as a useful bearish price indicator that is used to signal a sharp decline once price breaks through the support.
Btcusd looks south to the 63000 level.
RISING WEDGE
Ethereum
ETH/USD
4H
There is a rising wedge taking place and the price is ready to break out now.
When price breaks down, the move could identify a pause in an uptrending market.
It is likely that a further bearish run to 1700 will happen on a breakdown of the rising wedge.
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