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Thread: Trend Line Trading

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#197 (permalink)

12-10-2008, 01:06 AM

OxyGen

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Join Date: Sep 2008

Posts: 5

OxyGen is an unknown quantity at this point

Sep and Oct trendlines for JPYs

Hi ya Folks!

I seemed to notice there exist 2 channel parallel trendlines for Yen pairs, one starting from around 22nd Sep, and one around 30th Oct.
Pardon for the rough drawings....

I post GPB/JPY as an example.

(AUD/JPY, CAD/JPY, EUR/JPY, USD/JPY same pattern. While CHF/JPY and NZD/JPY have only a single line staring from Sep.)

If it is any (predictive) indication, GPB/JPY jumped up and broke the Oct trendline, and (maybe) start to follow the Oct trendline downwards.

Maybe other Yen pairs may follow suit?

Is this pattern of any significance? Is there a more professional way of stating the pattern? (is it "pitchfork"?)
If yes, then 22nd Sep and 30th Oct may become significant dates, and the value of the indicators like RSI, MACD on those dates may also be significant.

Thx!

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