Ming Jong Tey
Independent Analyst
Pattern trading is one of the most popular techniques traders use every day. Yet, most of the retail traders are not able to profit consistently in the long run mainly because they do not have a system for confirmation when trading.
In this video, you will find out how to trade the descending wedge pattern with this two-step trend reversal technique that will boost your winning rate while following a systematic approach. Watch the video below:
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Editors’ Picks
EUR/USD depreciates to near 1.1150 ahead of speeches from ECB Lane, Cipollone
EUR/USD retraces its recent gains registered in the previous session, trading around 1.1170 during the Asian session on Friday. The US Dollar receives support as traders adopt caution ahead of the US Personal Consumption Expenditures Price Index data for August.
GBP/USD retreats from its highest level since March 2022, slips below 1.3400 mark
GBP/USD attracts some sellers on Friday and is pressured by a modest USD strength. Bets for another oversized Fed rate cut in November should cap gains for the buck. A relatively hawkish BoE expectations should contribute to limiting losses for the pair.
USD/JPY rebounds toward 146.00, as focus shifts to US PCE data
USD/JPY is bouncing back toward 146.00 in the Asian session on Friday even as Tokyo CPI inflation data keep hopes of BoJ rate hikes alive. Intensifying risk flows on China's policy optimism underpin the pair's renewed upside. The focus shifts to the US PCE inflation data.
Editors’ Picks
AUD/USD corrects toward 0.6850, awaits US PCE Price Index
AUD/USD is falling back toward 0.6850 in Friday's Asian trading, reversing from near 19-month peak. A tepid US Dollar bounce drags the pair lower but the downside appears called by the latest Chinese stimulus measures, which boost risk sentiment ahead of US PCE data.
USD/JPY rebounds toward 146.00, as focus shifts to US PCE data
USD/JPY is bouncing back toward 146.00 in the Asian session on Friday even as Tokyo CPI inflation data keep hopes of BoJ rate hikes alive. Intensifying risk flows on China's policy optimism underpin the pair's renewed upside. The focus shifts to the US PCE inflation data.
Gold price consolidates below record high as traders await US PCE Price Index
Gold price climbed to a fresh all-time peak on Thursday amid dovish Fed expectations. The USD languished near the YTD low and shrugged off Thursday’s upbeat US data. The upbeat market mood caps the XAU/USD ahead of the key US PCE Price Index.
Bitcoin surges past $65,000, sets sights on $70,000
Bitcoin broke above its consolidation zone, signaling a potential bullish move ahead. At the same time, Ethereum is finding support at a key level, hinting at an upcoming rally. In contrast, Ripple consolidates between its crucial levels, indicating a period of indecision among traders.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
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