The Secrets of Trading Chart Patterns Like The Pros

TCPLTP 05 Feb 24’
The Secrets Of Trading Chart

Patterns Like The Pros
A Weekly Publication 039
This issue includes coverage of:
DAX (German stock market index)
DXY (U.S. Dollar Index)
S&P 500 (S&P)
NASDAQ 100 (NAS100)
Dow Jones Industrial Average (Dow)
Gold
Crude Oil
Forex
• Daily/Weekly Analysis • Trading Ideas & Updates

The Secrets of Trading Chart Patterns Like the Pros
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Examples of trades in this document are hypothetical and are for illustrative
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should not be construed as advice or endorsement of any specific trading strategy.
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Disclaimer
The contents of this document are intended solely for educational purposes. It is
important to emphasize that none of the chart patterns, chart setups, or any other
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Table of Contents
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S&P 500 CUP & HANDLE
S&P 500 Technical Analysis Update
The
withS&P 500continuation.
bullish index is exhibiting a 'Cup and Handle' formation on its weekly chart, a pattern often associated
Current
pattern Trading
to be Position:valid,
deemed Thetheindex is trading
price must above the breakout
consistently trade levelthis
above of 4815.92.
breakout Forlevel,
the supported
'Cup and Handle'
by a
confirmed bullish trend.
Pattern
momentum Significance:
now thatThe
the 'Cprice
up andis Handle'theisidentified
above a bullish continuation
level. This pattern,enhances
breakout suggesting thepotential
pattern' supward
validity,
and traders may anticipate a bullish trend.
Risk Management
a stop-loss. - Stop-Loss
Two strategic Strategy:
positions When
for the considering
stop-loss are a trade based on this pattern, it's prudent to set
Below the low preceding
At the midpoint the breakout
of the handle, levelas a secondary support level.
which acts
Target Projections
Target
Target Zone
Zone 12(62%):
(79%):5634.8
5857.40
Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros
NAS100 CUP AND HANDLE
Nasdaq 100 (Nas100USD) Technical Analysis Update:
Current
pattern'sTrading Position:
validation Thethe
requires index is currently
price to maintaintrading above theaccompanied
this position, crucial breakout
by alevel at 16767.80.
confirmed bullishThe
trend.
Pattern
possibleSignificance:
upward The 'Cupfollowing
movement and Handle'
a is a recognized
successful bullish
breakout. The signalthat
fact in technical
the index analysis,
is already suggesting
trading
above the breakout level enhances the pattern's validity.
Observation
with overall and Caution:
market Whileand
conditions thetheir
pattern suggests
trading a positive
strategies. trend,patterns
Technical traders should
are one integrate
of many this analysis
tools and
should not be the sole basis for trading decisions.
Target
62%:Projections
20663.1
79%: 21721.65

US30 CUP & HANDLE
Dow Jones Industrial Average (US30) Technical Analysis Update:
Pattern
its daily Identification:
chart. This The Dow
pattern is Jones Industrial
typically seen as aAverage
bullish (US30) showcases
indicator, hinting at a potential
a 'Cup and upward
Handle' pattern
trend on
continuation.
Market
breakoutPosition:
above Currently,
this point istheessential
US30 is trading above
to validate thea'Ccrucial
up andbreakout level near 36936.36. A sustained
Handle' pattern.
Key Levels: outlook.
the bullish The breakout level of 36936.36 is the primary focus. Remaining above this level could strengthen
Risk
belowManagement
the recent Strategy:
low before Athestop-loss might
breakout, whichbeisstrategically
at 35828.35. placed
This is either
to at thedownside
manage handle's midpoint
risks or
while
allowing the pattern to materialize.
Target Projections:
Target zones are based on the pattern's dimensions and technical analysis
Zone 12atat62%: 42104.1
momentum. 43562.31 These zones are potential areas for taking profits or reassessing the market
Zone 79%:

DXY CROWN
US Dollar Index (DXY) Technical Analysis:
The
and US Dollarthe
107.348, Index (DXY)isisexhibiting
market currentlyatrading above
pattern the 102.467
reminiscent of a level. With
"Crown, " a resistancessimilar
formation identified
to athead
the 104.699
and
shoulders pattern.
Key Levels
Current
ResistancePriceLevels:
Position: Above
104.699 and102.467
107.348.
Pattern
The Analysis to a "Crown" pattern suggests a formation akin to the head and shoulders, which often
reference
signifies potential trend
Vigilant monitoring reversals
of these resistance levels is essential to assess potential trend shifts or continuation.

DAX CUP & HANDLE
DAX GER 30 Technical Analysis Update
The DAXchart.
weekly GER 30, Germany'
Notably, s benchmark
the index stock index,
has surpassed has exhibited
the critical breakouta bullish 'Cup and Handle'
level, reinforcing pattern
the pattern' on its
s validity.
Breakout
indicator Level: The price
of potential upwardhas successfully
momentum,breachedin line withthethebreakout
'Cup andpoint at 16305.21.
Handle' This breakout is a key
formation.
Confirmation
accompanied ofbyTrend:
a It's essential
confirmed trend topost-breakout.
recognize thatTraders
'Cup andshould
Handle'
lookpatterns
for are deemed
additional reliable
indicators or when
market
confirmations to support this trend.
Stop-Loss
pattern, atStrategy:
15465.59.AThis
prudent stop-lossahas
level provides beennetplaced
safety againstat potential
the midpoint of the 'hprice
downward andle'movements.
portion of the
Target Zones:
Zone
Zone 1:2:The
Thefirst targettarget
second is setaims
at thefor62%
the Fibonacci levellevel,
79% Fibonacci of themarked
pattern'ats range,
19817.23.calculated at 19078.70
GOLD ABC BEARISH
Targets1
Gold (XAUUSD) Technical Analysis
Pattern Identification: Gold has formed an ABC Bearish Pattern on its daily chart.
Current Price Position: The price is trading below the short entry level (EL) identified at 2049.93.
Trading Strategy:
Breakout
entry Confirmation:
level. Therefore, The ABC
traders Bearish
should look Pattern
for is considered
confirmation of a valid when the
downtrend withprice
the tradesbelow
price below2049.93
the short
before considering bearish positions.
Stop Placement:
at 2064.22. To manage
This level risk, a stopagainst
acts as protection loss is advised
potentialto upward
be placed above the short entry level, specifically
movements.
Target Levels:
Target
Target 12(62%
(79%AB):
AB):The
Theinitial
secondtarget
targetis set at 1988.10,atrepresenting
is identified a 62% retracement
1961.65, corresponding to a 79% level.
retracement.

CRUDE OIL BUTTERFLY
Target1
Crude Oil Technical Analysis Pattern Identification:
Crude oil has formed

often indicative a 'Bullish
of potential Butterfly'
bullish pattern
reversals on its
at the enddailyof achart. The Bullish Butterfly is a harmonic pattern,
downtrend.
Current
price Price:trading
action The price
aboveis noted
a at 71.146.
specific longThe validity
entry level.ofThis
thelevel
Bullish
is Butterflyidentified
typically pattern isthrough
contingent upon the
harmonic
measurements but is not explicitly provided here.
Trading Strategy:
Entry
entry Point:
level. Consider
The exact entering
entry a long
point (buy)
should be position
determinedwhenbasedthe price
on shows confirmed
additional trading
analysis, as the aboveentry
long the level
long
is not specified in the information provided.
Stop
and Loss:
its A stopplacement
specific loss is advised
should at ideally
67.891. be
Thisbased
level isonsetthebelow the current
structure of the trading price
Butterfly to manage
pattern, typically risk,
near
the lowest point of the pattern (the tail of the butterfly).
Trend
or priceConfirmation:
action. This It's important
could include to seek for
looking confirmation
bullish of a bullish
candlestick trend through
formations, upwardother technical
trend signals indicators
from
moving averages, or momentum indicators turning positive.
CRUDE OIL GARTLEY BEARISH
Target1
Target2
US Oil (Daily Chart) - Gartley Bearish Pattern Analysis

Pattern
Current Identification:
Price Position: AThe
Gartley Bearish
pattern Pattern
suggests thathas
theformed
price on targeted
has the daily the
chart62%of retracement
US Oil level of XA
at 71.93.
Next79%
Targets
retracement level64.2
of XA: 69.9
127% extension of XA:
162% extension of XA: 64.24

CRUDE OIL 121 PATTERN
US Oil (Daily Chart) - 121 Bullish Pattern Analysis

Pattern Identification:
Long Entry The US Oil daily chart suggests the possibility of a 121 Bullish Pattern
Level (EL): 74.152
Price Action Observations

Trap:
False ABreakout:
potentialIndicated
trappingatscenario
79.266 around 67.694
Price Action (PA) at 71.775: Noteworthy as it may signal potential reversal patterns.
Trading Considerations
Traders
The may consider
observed price the Long
action Entry(trap,
patterns Levelfalse
at 74.152 for bullish
breakout, and positionsPA at 71.775) provide additional
notable
context for decision-making.

AUDUSD RECTANGLE CHANNEL
Australian Dollar/US Dollar (AUD/USD) Technical Analysis

Current
BreakoutMomentum: The AUD/USD
Level: The price has brokenpairbelow
is continuing
the LoweritsTrendline
bearish momentum
Breakout at 0.65257
Next100%
Target
retracement level: 0.64251.

EURUSD AB=CD BEARISH
Target1
EUR/USD - AB=CD Bearish Momentum Analysis

Current
Resistance Momentum:
Level: TheThe
priceAB=CD pattern on EUR/USD
has encountered indicates
resistance a resumption
at the Long Entry Levelof (EL)
bearish momentum
of 1.09014.
Next62%
Levels
retracement ofof AD:
AD: 1.06492.
1.07574
79% retracement

GBPUSD V-BOTTOM
British Pound/US Dollar (GBP/USD) Technical Analysis:
Pattern: TheasGBP/USD
recognized pairpattern,
a reversal is displaying a V Bottom
suggesting a rapidpattern
recoveryon its weekly achart.
following This formation
substantial decline.
is often
Current Price Position: Presently, the pair is trading above the critical breakout level, set at 1.24340.
Trading Strategy:
Confirmation:
legitimacy of It's important
the V Bottom to ensureMaintaining
pattern. that the price
aboveconsistently
this level stays above
could indicate 1.24340
the to confirm the
continuation of upward
momentum.
Risk
couldManagement: Vigilantcalling
negate the pattern, monitoring of price movements
for a reevaluation is key. A significant fall below the breakout level
of the strategy.
Support andpotential
insight into Resistance: Monitoring
points key support
for adjusting andorresistance
take-profit stop-losslevels
orders.is crucial, as these levels can offer
GBPUSD ABC BULLISH
British Pound/US Dollar (GBP/USD) Technical Analysis:
Pattern: TheasGBP/USD
recognized pairpattern,
a reversal is displaying a V Bottom
suggesting a rapidpattern
recoveryon its weekly achart.
following This formation
substantial decline.
is often
Current Price Position: Presently, the pair is trading above the critical breakout level, set at 1.24340.
Trading Strategy:
Confirmation:
legitimacy of It's important
the V Bottom to ensureMaintaining
pattern. that the price
aboveconsistently
this level stays above
could indicate 1.24340
the to confirm the
continuation of upward
momentum.
Risk
couldManagement: Vigilantcalling
negate the pattern, monitoring of price movements
for a reevaluation is key. A significant fall below the breakout level
of the strategy.
Support andpotential
insight into Resistance: Monitoring
points key support
for adjusting andorresistance
take-profit stop-losslevels
orders.is crucial, as these levels can offer
USDCAD ABC BULLISH
USD/CAD ABC Bullish Patterns Analysis:
Long Entry USD/CAD is currently trading within an ABC Bullish Pattern.
Level (EL): 1.33007.]
Targets:
62% retracement ofof AB:AB: 1.38108.
1.36760.
79% retracement
Current Position: USD/CAD
38% retracement level of AB,is currently
marked attrading
1.34875.
below, near the resistance at the

Considerations:
The price is encountering resistance near 1.34875, which may impact the bullish
scenario.
Traders should monitor price action for potential insights into market dynamics.
USDCAD GARTLEY BULLISH
USD/CAD - Gartley Bullish Pattern Analysis

aPattern Identification:
potential long trade USD/CAD has formed a Gartley Bullish Pattern, signaling
Long Entry Level (EL): 1.33864.
Target
62% Zones: Zone 1 of XA: 1.34814
retracement
79% retracement of XA: 1.35145.
Zone127%2 extension of XA: 1.36112

162% extension of XA: 1.36791.

USDCHF CRAB BULLISH
USD/CHF (US Dollar/Swiss Franc) Technical Analysis:
Pattern
harmonicIdentified:
pattern On
thatthecandaily chart,potential
indicate the USD/CHF
bullishpairreversals.
has formed a Crab Bullish Pattern. This is a type of

Current Price Position: The pair is currently trading above and near the long entry level, indicating bullish
sentiment.
Long Entrytrades
the price Level (EL):
aboveThethislong entry level is set at 1.10437. The Crab Bullish Pattern is considered active when
level.
Pattern
supportedValidity: The patternbullish
by a confirmed remains valid as long as the price sustains above the entry level, ideally
trend.
Stop Placement:losses.
limit potential The designated stop level (D ST) is placed below 0.83379. This level is set to manage and
Target Zones:
Target
range.
1 (23% AD): The first profit target is set at 0.85470, representing a 23% adjustment from the pattern's
Target 2 (38% AD): The second profit target is at 0.86849, representing a 38% adjustment.
USDJPY CUP & HANDLE
US Dollar/Japanese Yen (USD/JPY) Technical Analysis:
Pattern: On its daily chart,

bullish continuation theThis
pattern. USD/JPY pair aispotential
suggests displayingupward
a Cup movement
and Handleifpattern, commonly
the pattern regarded as a
is confirmed.
Current Price Position: Presently, the price is trading below the critical breakout level, identified at 151.928.
Trading Strategy:
Confirmation:
above the For thelevel
breakout Cupofand
151. Handle
9 28. pattern
Along with to bea considered
this, confirmed valid, it'sisessential
uptrend necessaryfortotheestablish
price to the
close
pattern's reliability.
Risk Management:
placement helps inSetting a stop-loss
mitigating potentialis recommended belowforthethemidpoint
losses while allowing patternoftothe handle. play
potentially This strategic
out.

USDJPY ABC BULLISH
US Dollar/Japanese Yen (USD/JPY) Technical Analysis:
Pattern Identification: The USD/JPY pair has formed an ABC Bullish Pattern on its daily chart.
Current Price Position: The price is currently trading above the entry level (EL) set at 141.883.
Resistance
145.860.
Level: The price has encountered resistance at the 38% retracement level of AB, marked at
Target Levels:
Target
Target 12(62%
(79%AB):
AB):The
Theinitial
second target is set
target at 149.300,atrepresenting
151.772, corresponding level.
to a 79% retracement.

AUDCAD DOUBLE TOP

AUDCHF RECTANGLE CHANNEL
Australian Dollar/Swiss Franc (AUD/CHF) Technical Analysis:
Pattern:
typicallyThe AUD/CHF pair
characterized by has formedlines
horizontal a Rectangle
marking Channel
the pattern
support and on its dailylevels,
resistance chart.forming
This pattern
a
is
'rectangle'. It suggests a consolidation phase within these levels.
Current Pricelevel
a breakout Position: The price
identified is currently trading near the lower trendline of the Rectangle Channel, with
at 0.57122.
Trading Strategy:
Breakout
breaks Confirmation:
through either Forupper
the a Rectangle
or lower Channel
boundary pattern, the validation
trendlines. The current comes
focus when
is on the
the price
lowerdecisively
trendline; a
breakout below this level could suggest a potential bearish move.
accompanied by a surge in volume, which adds credibility to the breakout.
It' s important that this breakout is

Stop-Loss
0.57877. Placement:
This placement A stop-loss
helps in is suggested
managing the atriskthein mid-point
case the of thereverses
price Rectangle
its Channel,after
direction whichattempting
is at
a breakout.
CADJPY CUP & HANDLE
Canadian Dollar/Japanese Yen (CAD/JPY) Technical Analysis:
Pattern Identification: The CAD/JPY pair is displaying a Cup and Handle pattern on its weekly chart.
Current Price Position: The price is currently trading below, near the breakout level set at 110.624.
Trading Strategy:
Breakout
the breakoutConfirmation:
level, Thein Cup
which, this and Handle
case, is pattern
110.624. This is considered
breakout valid
should be only when the price
accompanied by a trades above
confirmed
uptrend.
Stop
level Placement: A stopnetloss
acts as a safety is advised
against to bedownward
potential placed at movements.
the midpoint of the handle, marked at 107.376. This

Target Levels:
Target
Target 12(62%):
(79%):The
Theinitial
secondtarget
123.620, corresponding level.
to a 79% retracement.
CHFJPY CUP & HANDLE
CHF/JPY Technical Analysis:
Pattern
Price Position: CHF/JPY
The priceisistrading
tradingaabove
Cup andtheHandle pattern
breakout on its monthly
level identified chart.
at 149.799.
Target Zones:
38% Retracement:
pattern, marked atThe price is currently situated at the 38% retracement level of the Cup and Handle
168.284.
Target
Target Zone
Zone 12(62%):
(79%):The
Theinitial
secondtarget
187.879, corresponding to a 79% level.
retracement.
Trading Strategy:
Breakout
breakout Confirmation:
level.
Confirm the Cup and Handle pattern with the price trading consistently above the
Entry Point: A potential long (buy) entry could be considered with confirmation of the bullish trend.
Stop Placement: Place a stop loss strategically below the breakout level or at a level that aligns with your
risk tolerance.
AUDNZD SYMMETRIC TRIANGLE
Australian Dollar/New Zealand Dollar (AUD/NZD) Technical Analysis:
isSymmetric
characterized by Onconverging
two the AUD/NZD weekly chart,
trendlines a Symmetric
connecting a seriesTriangle
of patternpeaks
sequential has formed.
and This pattern
troughs.
triangles typically indicate periods of consolidation before the price breaks out.
Current Pricetrendline
to the lower Position:isThe priceasis itcurrently
crucial suggeststrading nearis the
the price flooraofkeythesupport
testing symmetrical triangle.
level within theThis proximity
pattern.
Pattern Validation:
Breakout Confirmation:
can be either above theFor the Symmetric
upper trendline orTriangle
below thepattern
lower totrendline.
be validated, a breakout needs to occur. This

Confirmed Trend: The
through increased breakout
trading should
volume andbe accompanied
other by a confirmed trend, which can be validated
technical indicators.

CADCHF RECTANGLE CHANNEL
Canadian Dollar/Swiss Franc (CAD/CHF) Technical Analysis:
Rectangle Channel is On the CAD/CHF
characterized by daily
price chart,
moving a Rectangle
between Channelsupport
parallel patternandhasresistance
been identified.
lines, A
creating a rectangular shape. This pattern typically represents a consolidation phase within a larger trend.
Current
Channel,Price Position:This
at 0.64586. Theindicates
price is currently
that the trading above, near
price is testing the Lower
the support levelTrend
of theLinepattern.
of the Rectangle
Pattern Validation:
Breakout
can be Confirmation:
either above the For the Rectangle
upper boundary Channel pattern
trendline to beorvalidated,
(resistance) below the a lower
breakout needs trendline
boundary to occur. This
(support).
Confirmed Trend:momentum
trading volume, The breakout should beandsupported
indicators, by a confirmed
other technical trend, which can be assessed through
analysis tools.
Trading Strategy and Stop-Loss Placement:
Stop-Loss
manage Strategy:
risk. This A stop-lossconsiders
placement order atthe
0.66431, which
volatility is thethemidpoint
within channel ofand
theprovides
rectangle'a sbuffer
height,against
can help
false
breakouts or normal price fluctuations.
Directional
prepared forBias:
bothGiven thatand
bullish rectangle
bearish channels
scenarios. can breakshould
Traders out in watch
either direction,
for signs it’saimportant
of breakout, toincluding
be an
increase in trading volume or a decisive candlestick pattern.
EURAUD GARTLEY BULLISH
Euro/Australian Dollar (EUR/AUD) Technical Analysis:
Pattern
harmonic Identification:
pattern in The Gartley
technical BullishThis
analysis. pattern, identified
pattern is on the daily
characterized by chart of EUR/AUD,
specific Fibonacci isretracement
a well-knownand
extension levels and is often seen as a signal for a potential bullish reversal.
Current
Gartley Price Position:
Bullish pattern The
is price isidentified
typically trading below
at a the longFibonacci
specific entry levellevel
(EL)following
at 1.62341.the
Thecompletion
long entry oflevel
thein a
pattern.
Pattern Validation:
Breakout
the long Confirmation:
entry level For theThisGartley
(1.62341). Bullish
breakout pattern
should be to be considered
accompanied by valid, the price
increased should
trading tradetoabove
volume confirm
the bullish momentum.
Confirmed Trend:
which can be The validity
assessed using ofadditional
the pattern is further
technical reinforced
indicators by a confirmed
or price uptrend post-breakout,
action analysis.
Stop-Loss Strategy:
Placement: A stop should be placed below the designated stop level (D ST) at 1.61389.
EURCAD CYPHER BEARISH
Euro/Canadian Dollar (EUR/CAD) Technical Analysis:

Pattern
Price Position: EUR/CAD
The price isistrading
finding aresistance
Bearish Cypher
at the Pattern
38% on its dailylevel
retracement chartof XC, marked at
1.46866
Target Levels
Target
Target 12(62%
(79%XC):
XC):The Theinitial
secondtarget
1.42965, corresponding to a 79% level
retracement.
Trading Strategy
Resistance
38% Confirmation:
XC resistance level Confirm the Bearish Cypher Pattern by observing how the price reacts at the
Entry38%
the Point:
XC Alevel
potential short (sell) entry could be considered if the price demonstrates a reversal from
Stop Placement:
completion point.
A stop loss can be strategically placed above the reversal point or above the Cypher
EURGBP
Euro/British Pound (EUR/GBP) Technical Analysis:

GBPCHF V-BOTTOM
British Pound/Swiss Franc (GBP/CHF) Technical Analysis:

GBPAUD BUTTERFLY BULLISH
British Pound/Australian Dollar (GBP/AUD) Technical Analysis:
Bullish pattern The GBP/AUD
is a harmonic patternhas thatformed a Butterfly
suggests Bullishreversal
a potential patternofon
theitsexisting
daily chart.
trend.
The Butterfly
Current Pricethe
it represents Position: The reversal
potential price is trading
point innear the longwhere
the market entrytraders
level (EL)might
at 1.86856.
expectThis level turnaround.
a bullish is significant as
Pattern Significance:
Bullish Reversal
indicating Signal: Theof Butterfly
the possibility an upward Bullish
pricepattern is typically
movement considered
following a bullishofreversal
the completion pattern,
the pattern.
Confirmation of Trendwith
entry level at 1.86856 Reversal: For theuptrend.
a confirmed pattern to be considered valid, the price must break above the long
Trading
position,Considerations:
as it would confirm EntrythePoint: A break
bullish above
reversal 1.86856bycanthebepattern.
indicated seen as an entry signal for a long

Volume and Momentum:
bullish momentum, whichIdeally,
would the breakouttheshould
strengthen validitybeofaccompanied
the pattern.
by an increase in volume and

Risk
helpsManagement:
to manage Stop-Loss
risk. This Placement:
location is Placing
selected to a stoppotential
limit below the designated
losses if the stop level
expected (D ST)
bullish at 1.85809
reversal fails to
materialize.
Position Sizing: It's crucial to size positions appropriately to manage overall portfolio risk.
GBPAUD V-BOTTOM
British Pound/Australian Dollar (GBP/AUD) Technical Analysis:
Pattern:
Breakout V-bottom
Level: pattern.
1.93165.
Confirmation:
Stop-Loss: Theaprice
Place is currently
stop-loss order tradingtheabove
below low the breakout
preceding the level with aadhering
breakout, confirmed
to trend.
established
your
strategy.
Targets:
62% Target: 1.98871.
1.97662.
79% Target:

GBPCAD ABC BULLISH
British Pound/Canadian Dollar (GBP/CAD) Technical Analysis:
Pattern
pattern Identification:
is a harmonic The GBP/CAD
pattern has formed
that typically an ABCa potential
suggests Bullish pattern
reversalon oritscontinuation
daily chart. The ABCtrend.
of the Bullish
Current
crucial asPrice Position: The
it represents theprice is currently
potential point intrading
the marketbelowwhere
the long entrymight
traders levelexpect
(EL) at a1.69232.
bullishThis level is
movement.
Bullish Signal:price
an upward Themovement
ABC Bullishonce
patternthe ispattern
typically interpreted as a bullish signal, indicating the possibility of
is completed.
Validation of Pattern:
at 1.69232 with For theuptrend.
a confirmed pattern to be considered valid, the price must trade above the long entry level
Trading
position,Considerations:
as it would confirmEntrythePoint: A move
bullish above
nature of the1.69232 can be seen as an entry signal for a long
pattern.
Volume
momentum and indicators,
Momentum:whichThe entry
wouldshould ideally betoconfirmed
lend credibility by increased volume and bullish
the breakout.
Risk Management:
Stop-Loss
manage Placement:
risk. This Placing
location is a stop toabove
chosen the designated
minimize potential stop level
losses if the(ST) at 1.67594
expected bullishis recommended
move does not to
materialize.
Position Sizing: Proper position sizing is crucial to ensure effective risk management.
GBPJPY RECTANGLE CHANNEL
British Pound/Japanese Yen (GBP/JPY) Technical Analysis:
characterized by price The GBP/JPY has
movements formedwithin
contained a Rectangle
parallel Channel
upper andon itslower
dailytrendlines,
chart. Thisrepresenting
pattern is the
levels of resistance and support respectively.
Current
indicatesPrice Position:
a period The price is currently
of consolidation trading
or indecision within
in the the boundaries of the channel's trendlines. This
market.
Continuation
might resumeSignal:
its priorRectangle
trend afterChannels
breakingareouttypically continuation patterns, suggesting that the price
of the channel.
Pattern
channel Validation:
boundaries, Theeither
validity of athe
above Rectangle
resistanceChannel
or is confirmed
below the when
support line, the
withprice
a breaks outmove
significant of theand
ideally increased volume.
Trading Considerations:
Breakout/Breakdown
breakdown below the Watch:
lower Traders should
boundary of the be vigilantasforthisa breakout
channel, could above
signal the the upper boundary
continuation of the or a
previous
trend.
Volume Analysis: stronger

move, indicating Increasedmarket
volumecommitment
during a breakout or breakdown
to the new direction.
can strengthen the validity of the

Risk Management:
Stop-Loss
breakout. Strategy:
For example,A stop-loss
if the canbreaks
price be placedabove justtheoutside
upper the oppositea stop-loss
boundary, boundarycan of the
be channel
placed frombelow
just the
the lower boundary, and vice versa.
Position
potentialSizing: Adjustnotposition
loss does exceedsizes
your toriskaccount for the volatility of the GBP/JPY pair and ensure that any
tolerance.
GBPJPY CUP & HANDLE
GBP/JPY Cup and Handle Pattern Analysis: Update
Pattern: Cup and Handle pattern.
Daily
The Chartis Analysis:
price forming aatCup

Support is observed the and
38% Handle pattern.
retracement level, marked at 178.612.
Current
The pricePosition:
is currently trading below, near the 100% level at 188.919.
Target
127% Zones:
193.560.
retracement:
162% retracement: 199.284.

GBPJPY DIAMOND CONTINUOU
GBP/JPY Diamond Continuation Pattern Analysis

Pattern: Diamond Continuation pattern
Weekly
The priceChart Analysistrading above, near the 1st set of targets
is currently
Target
62% retracement: 190.717.
186.756
79% retracement:

GBPJPY CUP & HANDLE
GBP/JPY Cup and Handle Pattern Analysis

Pattern: Cup and Handle pattern
DailyTheChart Analysis
The price has
price formedtrading
is currently a Cup and Handle
below, nearpattern
the breakout level at 188.661
Considerations
Cup aand Handle patterns are considered valid when the price breaks out above the long breakout level
with
Traders confirmed
should trend
place risks.
a stop-loss below the low preceding the breakout or at the midpoint of the handle
to manage potential

EURJPY CUP & HANDLE
EUR/JPY Technical Analysis:
Pattern
chart.
Identification: The EUR/JPY pair is in the process of forming a Cup and Handle pattern on its daily
Current Price Position: The price is currently trading below the breakout level, set at 164.308.
Trading Strategy:
Breakout
breakout Confirmation:
level. Therefore,Thetraders
Cup and Handle
should awaitpattern
a is considered
confirmation of an valid whenwith
uptrend thethe
priceprice
trades above
moving the
above
164.308 before considering bullish positions.
Stop Placement:
midpoint A prudent
of the handle, stop loss
providing strategy
a safety netinvolves
against placing
potentiala downward
stop belowmovements.
the breakout level or at the

Target
Zone 1 Zones:
The initial target is set at 171.140, representing a 62% retracement level.
(62%):
Zone 2 (79%): The second target is identified at 172.867, corresponding to a 79% retracement.
NZDUSD (W) ABC BULLISH
New Zealand Dollar/US Dollar (NZD/USD) Technical Analysis:
Pattern
typicallyIdentification:
a reversal The NZD/USD
pattern has formed
characterized by an waves:
three ABC Bullish
A pattern
down move, onaitscorrection
weekly chart.
(B), This apattern is
and
continuation of the uptrend (C).
Current Price Position:

be validated, the priceThe pricetrade
should is trading
abovenear this the
levellong
andentry level aofconfirmed
maintain 0.60157. Foruptrend.
the ABC Bullish pattern to

Bullish Indication:
especially An ABC
if the price Bullish
action supportspatternthissuggests
change awith potential reversal
a sustained movefromabove
a bearish to aentry
the long bullishlevel.
trend,
Pattern Validation:
confirming A consistent
the pattern’s validity.
upward trend following the move above the long entry level is crucial for
Trading Considerations:
Breakout
technical Confirmation: Traders should
indicators or increased tradinglookvolume.
for confirmation of the uptrend, possibly through additional

Market
ZealandSentiment:
Dollar andStay
the USupdated
Dollar,on as global
these can economic
influencefactors andsnews
the pair' events that may impact the New
movements.
Risk Management:
Stop-Loss
move backStrategy:
below thisA stop-loss
level couldcaninvalidate
be placed thebelow
bullish0.57635. This placement
expectation can help manage risk, as a
of the pattern.
Position Sizing:
your overall riskAdjust your position
management size to ensure that the potential loss from the stop-loss level aligns with
strategy.

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TCPLTP 05 Feb 24’

The Secrets Of Trading Chart

This issue includes coverage of:

DAX (German stock market index)

DXY (U.S. Dollar Index)

S&P 500 (S&P)

NASDAQ 100 (NAS100)

Dow Jones Industrial Average (Dow)

• Daily/Weekly Analysis • Trading Ideas & Updates

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S&P 500 CUP & HANDLE

S&P 500 Technical Analysis Update

NAS100 CUP AND HANDLE

Nasdaq 100 (Nas100USD) Technical Analysis Update:

Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros

US30 CUP & HANDLE

Dow Jones Industrial Average (US30) Technical Analysis Update:

Key Levels: outlook.

Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros

US Dollar Index (DXY) Technical Analysis:

Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros

DAX CUP & HANDLE

DAX GER 30 Technical Analysis Update

GOLD ABC BEARISH

Gold (XAUUSD) Technical Analysis

Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros

CRUDE OIL BUTTERFLY

Crude Oil Technical Analysis Pattern Identification:

Crude oil has formed

CRUDE OIL GARTLEY BEARISH

US Oil (Daily Chart) - Gartley Bearish Pattern Analysis

Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros

CRUDE OIL 121 PATTERN

US Oil (Daily Chart) - 121 Bullish Pattern Analysis

Price Action Observations

Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros

AUDUSD RECTANGLE CHANNEL

Australian Dollar/US Dollar (AUD/USD) Technical Analysis

Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros

EURUSD AB=CD BEARISH

EUR/USD - AB=CD Bearish Momentum Analysis

Disclaimer: Education purposes only. not advise. Charts: Tradingview @tradechartpatternslikethepros

British Pound/US Dollar (GBP/USD) Technical Analysis:

GBPUSD ABC BULLISH