US SESSION
A) CALENDAR
-USA Columbus Day
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4155 118.00 2.0440
R2 1.4120 117.75 2.0425
R1 1.4105 117.55 2.0385
S1 1.4080 117.30 2.0330
S2 1.4055 117.10 2.0300
S3 1.4030 116.80 2.0275
C) WATCH
-Interest Rates
D) TRADING TIPS
Flags and Pennants
The more important points of both patterns:
1) They are both preceded by an almost straight line move (called flagpole) on heavy <>.
2) Both patterns occur at about the midpoint of the new market move.
3) The pennant resembles a small horizontal symmetrical triangle.
4) The flag resembles a small parallelogram that slopes against the prevailing trend.
5) Both patterns take less time to develop in downtrends.
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