CADJPY: Inverted Head & Shoulder. Price Headed To Major QP?
I really liked this setup so I was mad when I missed it.
Another inverted H&S pattern with a SQP 78.75 acting as the neckline, which is right above the descending TL
Anytime you have a quarter point near a TL, you can use them as a good entry price for pending orders.
In this case we could've set a buy stop order at 78.75 with a 30-40 pip SL.
Now I'm waiting to see if we get a retest of the MQP 80. I think this level could attract sellers.
Watch for some bearish price action around that level.
Another inverted H&S pattern with a SQP 78.75 acting as the neckline, which is right above the descending TL
Anytime you have a quarter point near a TL, you can use them as a good entry price for pending orders.
In this case we could've set a buy stop order at 78.75 with a 30-40 pip SL.
Now I'm waiting to see if we get a retest of the MQP 80. I think this level could attract sellers.
Watch for some bearish price action around that level.