USD/CAD – 1H – BUYNext a ‘Northern Doji’ candlestick pattern is discovered. The chart shows ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Next a ‘Double top chart pattern’ chart layout is found. The chart forms ‘Double top chart pattern’. this is a bearish pattern signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.39045 |
| 2nd High | 1.38986 |
| Next High | 1.38922 |
| Current Price | 1.38489 |
| Next Low | 1.38079 |
| 2nd Low | 1.37978 |
| 3rd Low | 1.37927 |
1.38922 – 1.38921 – 1.38986 – 1.38079 – 1.38493 – 1.38396
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji