About a month ago, we talked about some of the most successful chart patterns. Tonight, we will focus on some other successful chart patterns. The same rules apply as they do to the most successful patterns. The patterns have to be confirmed by a break in support or resistance. Remember the support or resistance does not have to be horizontal lines; a lot of times the support or resistance will be a diagonal line. The distance at the pattern’s widest point will give us the expected distance to move once […]

Dollar When we take a look at the US Dollar Index ($USD), we can see that it is still in an overall upward trend as seen in the graph below. The dollar continues to strengthen. On any given day, there will be weakness that can occur. This is normal as you look at how the dollar has progressed over the last 4 ½ months. The 9 and 18 exponential moving averages are still heading upward. The ADX trend line is strong and approaching very strong if it were to climb […]