Friday, August 10, 2018

FX Chartology: EUR/USD

I know what this chart pattern is called:

No, it's not a 'head-and-shoulders', it's the 'non-stylized' Bat Signal!

Here's the stylized version via the Wall Street Journal's MarketBeat blog, April 2013:

Buy Signal? Sell Signal? No, It’s the ‘Bat Signal’

Talk about your head and shoulders pattern.

Traders and market observers have been passing around an amusing weekly chart of Alcoa Inc. shares in which the stock movement seems to trace out what looks like an image of Batman’s head. 
Take a look at the chart:
Weekly chart of Alcoa shares
Now, look at a picture of the Dark Knight himself:
The lack of definition in the cowl structure of the euro chart makes it less likely that some joker will show up to discuss the importance of the pattern but advanced students will recognize what's what.
You're welcome.