chart formation

Chart Formation

The graphical representation on a chart of a trend in security prices. Technical analysts identify chart formations for a security and predict future price movements in part by matching current patterns with previous patterns.

chart formation

A series of graphed stock prices or other market variables that form a recognizable pattern that may be used to determine future movements of the charted variable. Chart formations are not always as clearly defined as their users would like; thus, the ability to recognize and use charted data varies among technicians. Also called formation, pattern. See also inverted formation.
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However, current positioning hints that the upswing is nearly over with GBPJPY prices putting in a Star candlestick at the upper boundary of a Rising Wedge bearish reversal chart formation.
Prices have formed a large Rising Wedge bearish reversal chart formation, with added confirmation seen in negative divergence on the RSI oscillator.
The Dow Jones Industrial Average looks to have broken support at the neckline of a Head and Shoulders topping chart formation, hinting a bearish reversal is ahead: Dow Jones Industrial Average (daily) The Dow is closely correlated to most of the major currency pairs, with the high-yielding and commodity-linked currencies naturally showing the strongest relationships because of their inherent connection to trends in risky assets.
Technical positioning is supportive, with the MSCI measure showing signs of a forming double top at the swing high from early January while crude oil is bouncing lower after a test of resistance marked by the top of Rising Wedge chart formation, a setup typically indicative of a downward reversal.
5034 as the pair showed a clear Bearish Engulfing candlestick pattern at the top of a Rising Wedge chart formation.
AK Steel Holding Corporation looks positioned for a push to a new 12-month high with a strong chart formation and a pending earnings release on October 23.
GBPUSD is showing a clear Bearish Engulfing candlestick pattern at the top of a Rising Wedge chart formation, a setup that is itself indicative of a downward reversal.
Current positioning suggests the bears be setting up to reclaim dominance over GBPUSD price action: as we noted in an earlier update, the pair is showing a clear Bearish Engulfing candlestick pattern at the top of a Rising Wedge chart formation, a setup that is itself indicative of a downward reversal.
THE chart formation around this week's tots first shows freedom- loving Pisceans who enjoy having plenty of scope for their many interests in life, and then from Friday at 1am the livewire Ariens start to arrive.
The chart formation, called a contango, indicates a well-supplied market.
Summary: The Australian Dollar has broken key support against its US counterpart at the bottom of a Rising Wedge chart formation that we identified last week.
We announced MU as December's Stock-of-the-Month well before it posted its incredible earnings using MU's attractive Cup & Handle chart formation.