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DESCENDING TRIANGLE
Gold
XAU/USD
1H
It seems like the price creates a descending triangle, gold requires a further steady move as a sign of a breakout.
A descending triangle denotes a reliable bearish price action signal that indicates extending an downtrend when price breaks out.
Gold to accomodate towards the 4040 zone on a break below 4050 as bears look for entries.
PENNANT
USD/JPY
1H
There is a pennant found and the price requires a next bigger bullish impulse to confirm pennant breakout.
If price breaks above resistance, the move could spot an extension in the upward direction.
It is likely that a bullish continuation to the 163.9 mark will take place.
ASCENDING CHANNEL
Bitcoin
BTC/USD
1H
An ascending channel is close to being complete, the price expects next strong pullback as a signal of a breakdown.
An ascending channel is said to depict a technical price action formation that results in a countertrend succeeding the current trend in case if price breaks below support.
There is a probability of a bearish price action towards 64400 on a break below 64500 as door open for a test of 64400.
BULLISH FLAG
USD/JPY
1H
There is a bullish flag determined.
A bullish flag denotes a reliable bullish price pattern that is angled down that is used to indicate a bullish price action if price breaks above resistance.
Usdjpy turns bullish to the 163.9 mark on a breach of 163.8.
ASCENDING CHANNEL
Gold
XAU/USD
1H
There is an ascending channel revealed and the price demands a next move to confirm a breakdown.
An ascending channel typically predicts an upward trend is nearing its end once price breaks out.
There is a probability of corrective downside to the 4060 mark as the commodity probes 4075 hurdle.
BEARISH FLAG
Bitcoin
BTC/USD
1H
There is a bearish flag diagnosed.
A bearish flag identifies a compelling price formation that has an upward slope that typically indicates a bearish price move once price breaks out to the the downside.
Btcusd is at risk of extending its slump towards the 64500 mark.
RECTANGLE
GBP/USD
1H
There is a rectangle materializing.
When price collapses through the support line, the resulting move could predict a sharp decline.
Gbpusd now looks towards the 1.33 level as bears looking for downside correction.
BEARISH FLAG
EUR/USD
1H
There is a bearish flag developing and the price wants fall for clear breakdown confirmation.
A bearish flag provides a compelling price indicator that can be used to predict that the price to go short once price breakdown occurs.
Eurusd to accomodate towards 1.137 on a breakout of the bearish flag.
BULLISH FLAG
USD/JPY
1H
A bullish flag is exposed, the price expects a move as a verification of a breakout.
When price breaks out to the the upside, the resulting move could signal that prices are likely to keep rallying upward.
There is a probability of a rangebound to the 163.8 level once beyond 163.68 as usdjpy resumes the upside.
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