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Forex Education Video for XPTUSD showing ICHIMOKU posted on 26-07-2013


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PLATINUM sees increasing bearish pressure over the next 2 weeks.

A Forex trading technical analysis video showing the doji candlestick at the centre of a five-day symmetrical chart pattern.  The top of the gravestone doji is at the 38% Fibonacci retracement level of the rally from 2008's low to the 2011 interim high, while the 50% point started this month's corrective bounce.  Either side of the doji are two hanging men candlesticks - reversal candles at the top of a bull market.  Today's red candle mirrors Monday's blue one and has found support at the 9-day moving average which coincides with the lower edge of the cloud.  All of the above takes place at the thinnest, rapidly sliding, Ichimoku cloud where bearish pressure increases though to the 8th August.

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Nicole Elliott

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