tabattery
10-06-09, 10:14 PM
I come across this software some months back and thought it maybe a good idea to introduce to newbies or anyone who is interested in this service. You should not follow the signals given blindly if you are new to forex. The description on the movements is good for those who want to learn about forex. You can visit the above web link for further information. You have to pay for the service once the trial period is over.
The chart for this month is on EurCad downtrend. You can check them out and verify accordingly:
All three these EURCAD chart patterns display a similar downward trend. The patterns shown are a reversal channel (1) from the 60 minute chart ; a falling continuation wedge (2) from the 240 minute chart; and a continuation pennant (3) from the daily chart. At the time of writing, the downwards trend on these three time frames is seen to be continuing. On the 60 minute (1), price has continued downwards to below 1.553 towards support line (A); to below 1.555 on the 240 minute (2) towards support line (B); and to below 1.554 on the daily (3) towards support line (C). The three patterns all indicate that movement is bearish on EURCAD. While the price remains within the parameters of these three patterns, it presents the opportunity to go with the downwards trend in both the short and the long term before a possible return to the resistance levels shown by the lines (D), (E) and (F). It is interesting to note that the rectangular region indicated by the dotted line on (2) illustrates where (1) fits into (2). You will also note that (2) and (3) have different bar sizes, but that the patterns span over the same time period.
The chart for this month is on EurCad downtrend. You can check them out and verify accordingly:
All three these EURCAD chart patterns display a similar downward trend. The patterns shown are a reversal channel (1) from the 60 minute chart ; a falling continuation wedge (2) from the 240 minute chart; and a continuation pennant (3) from the daily chart. At the time of writing, the downwards trend on these three time frames is seen to be continuing. On the 60 minute (1), price has continued downwards to below 1.553 towards support line (A); to below 1.555 on the 240 minute (2) towards support line (B); and to below 1.554 on the daily (3) towards support line (C). The three patterns all indicate that movement is bearish on EURCAD. While the price remains within the parameters of these three patterns, it presents the opportunity to go with the downwards trend in both the short and the long term before a possible return to the resistance levels shown by the lines (D), (E) and (F). It is interesting to note that the rectangular region indicated by the dotted line on (2) illustrates where (1) fits into (2). You will also note that (2) and (3) have different bar sizes, but that the patterns span over the same time period.