Traders Edge: Market Briefing 31/08/22

In today’s Traders Edge Market Briefing, Tomasz found these unique setups that we thought you’d find interesting.

Oil dropped after a false breakout of the neckline of the inverted Head and Shoulders formation

The USDJPY bounces off a long-term horizontal resistance – highs from the previous month.

DAX started Wednesday with a strong drop

The SP500 continues with a typical downtrend, the price is making lower lows and lower highs

Gold continues declining inside of the falling wedge pattern

The AUDJPY still trades above the upper line of the triangle but demand looks rather weak

The GBPJPY bounces off the lower line of the symmetric triangle pattern. Potentially the start of a promising mid-term rise