20.08.2010 - GBP/USD (PATERN CHARTS)
This charts show 3 possibility patern.
-For A Rounding Bottom , swing traders can sell if price bumps up midway through the rounding turn. Buy back in once price retraces back to near the price at which the bump started. Price usually re-enters the rounding turn higher than the launch price.
-For Cup and Handle , upward leading to the pattern. Price should rise by at least 30% leading to the cup for confirmation of the patern. Buy when price closes above the right cup rim.
-For Move Measure Down , patterns with U-shaped on corrective trend. But i'm prefer this could be a Flat flag trend. If the flag appears above (upward breakouts) or below (downward breakouts) a flat base then expect the move to be a large one.