‘Railway Track’ Pattern: Bullish on A/U.

‘Railway Track’ patterns are patterns I tend to give more focus to when I see them emerge on either weekly or monthly charts.

The following example is one that I noted on the A/U monthly chart in my write up on 3rd March 2014.

The monthly candle for the A/U in February closed as a bullish candle AND in a bullish-reversal ‘railway track’ pattern. This candle pattern as it appeared then is highlighted below:

A/U monthly bullish ‘railway track’ at support:

This is the appearance of the chart as of 21st April. Price went on to deliver over 430 pips since this bullish ‘Railway Track’ pattern was first noted: