Trading and Investing Forum

Go Back   Trading Forum and Blogs > Forex Trading


Reply
 
Thread Tools Display Modes
  #1  
Old 11-18-2012, 11:32 AM
Dan Blystone's Avatar
Dan Blystone Dan Blystone is offline
 
Join Date: Oct 2006
Location: Barcelona
Posts: 320
Dan Blystone is on a distinguished road
Send a message via Skype™ to Dan Blystone
Default GBP/JPY: Ascending Triangle and Price/Oscillator Divergence

Looking at the daily GBP/JPY chart we can see that it found resistance at the horizontal trendline of it's ascending triangle pattern.

The divergence between the uptrend in price and the downtrend in the RSI momentum oscillator suggests a possible bearish reversal.



Chart courtesy of Oanda
__________________
Disclaimer: There is a substantial risk of loss in trading stocks, futures, options and forex. Past performance is not indicative of future results. The information and data in this report were obtained from sources considered reliable. Their accuracy or completeness is not guaranteed and the giving of the same is not to be deemed as an offer or solicitation with respect to the sale or purchase of any securities or commodities.
Reply With Quote
Reply

Bookmarks


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -6. The time now is 11:31 PM.


Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.