{"id":373,"date":"2009-10-26T13:47:29","date_gmt":"2009-10-26T08:17:29","guid":{"rendered":"http:\/\/www.niftylivecharts.com\/blog\/?p=373"},"modified":"2009-10-26T13:47:29","modified_gmt":"2009-10-26T08:17:29","slug":"two-price-patterns","status":"publish","type":"post","link":"https:\/\/www.niftylivecharts.com\/blog\/two-price-patterns\/","title":{"rendered":"Two price patterns"},"content":{"rendered":"<p>Volatility will be with us again . Expect another massive gap lower than, in part, to Apple (AAPL).<\/p>\n<p>The much-loved AAPL delivered a dismal earnings outlook, reinforcing the worries over a slowdown in consumer spending. AAPL is down with 11 percent in pre-market trading.<\/p>\n<p>Emotions will run high again today and we&#8217;re likely to see some more wild swings in the broader market, so we&#8217;re looking at a couple of patterns off the beaten path.<\/p>\n<p><strong>FXE &#8211; Double Top<\/strong><br \/>\nWe&#8217;re watching the unfolding of a potential double top in the Euro Currency Shares Trust (FXE). This ETF tracks the EUR\/USD exchange rate.<\/p>\n<p>The FXE reveals that the dollar is weakening when it&#8217;s trending up and , the dollaris strengthening when it&#8217;s trending down.<\/p>\n<p><a class=\"highslide\" onclick=\"return vz.expand(this)\" href=\"https:\/\/www.niftylivecharts.com\/blog\/wp-content\/uploads\/2009\/10\/fxe.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-374\" title=\"fxe\" src=\"https:\/\/www.niftylivecharts.com\/blog\/wp-content\/uploads\/2009\/10\/fxe-300x185.png\" alt=\"fxe\" width=\"300\" height=\"185\" srcset=\"https:\/\/www.niftylivecharts.com\/blog\/wp-content\/uploads\/2009\/10\/fxe-300x185.png 300w, https:\/\/www.niftylivecharts.com\/blog\/wp-content\/uploads\/2009\/10\/fxe.png 460w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>lot of people do not expect the dollar to be strenghthen . But in our view, that&#8217;s all the more reason to watch for a bullish reversal in the greenback vis-\u00e0-vis a breakdown in the FXE.<\/p>\n<p><strong>NITE &#8211; 123 Bottom<\/strong><br \/>\nShares of Knight Capital Group (NITE) are holding up remarkably well in this market climate. The stock started to come in action\u00a0 back in October. NITE has since traced a higher relative low and broke above horizontal resistance at $14.75,completing a 123 bottom. Look for the stock to hold above resistance, which should now serve as support.<\/p>\n<p><a class=\"highslide\" onclick=\"return vz.expand(this)\" href=\"https:\/\/www.niftylivecharts.com\/blog\/wp-content\/uploads\/2009\/10\/NITE.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-375\" title=\"NITE\" src=\"https:\/\/www.niftylivecharts.com\/blog\/wp-content\/uploads\/2009\/10\/NITE-300x185.png\" alt=\"NITE\" width=\"300\" height=\"185\" srcset=\"https:\/\/www.niftylivecharts.com\/blog\/wp-content\/uploads\/2009\/10\/NITE-300x185.png 300w, https:\/\/www.niftylivecharts.com\/blog\/wp-content\/uploads\/2009\/10\/NITE.png 460w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Volatility will be with us again . Expect another massive gap lower than, in part, to Apple (AAPL). The much-loved AAPL delivered a dismal earnings outlook, reinforcing the worries over a slowdown in consumer spending. AAPL is down with 11 percent in pre-market trading. Emotions will run high again today and we&#8217;re likely to see [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[1381],"tags":[1413,1411,1410,1408,1415,1414,1409,1412],"class_list":{"0":"post-373","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-trading-price-patterns","7":"tag-buy-patterns","8":"tag-pattern-prices","9":"tag-price-action-patterns","10":"tag-price-pattern","11":"tag-price-patterns-pdf","12":"tag-sale-patterns","13":"tag-short-term-price-patterns","14":"tag-trading-with-short-term-price-patterns","15":"entry","16":"has-post-thumbnail"},"_links":{"self":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/373","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/comments?post=373"}],"version-history":[{"count":0,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/posts\/373\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/media?parent=373"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/categories?post=373"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftylivecharts.com\/blog\/wp-json\/wp\/v2\/tags?post=373"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}