Impulse leg XA followed by AB=CD correction into 0.786 level. Typical Gartley pattern. Expect a bullish resolution the next days. 1. Target 262 is very likely 2. Target 275 becomes likely after break of yellow neckline Stop Loss bellow the current double bottom at 235 Don't go all in 50x on this one, though. Cheerz : ]
Neat downtrend. Inverted H&S (please if you disagree let me know). RSI and CVI (Cumulative Volume Index) both high at Head's peak and low on right shoulders: Note: Since there is no volume, I looked at the CVI, but I don't know anything about it....:( The target (1.077) converges with the top of the downtrend (resistance).
The head and shoulders has been more or less confirmed. As we have a tone of resistances and not a lot emotional strength to begin or continue our short term bull rally, we will likely see a break not only of the current lower support line but also of the head and shoulders support line. In my wishful thinking we will perform a adam and eve bottom and then got...
ADEP, or Adept Technology, is a robotics company focusing on industrial automation, as well as software and vision guidance. Recently caught in a downtrend, ADEP seems to be making a reverse head and shoulder pattern, which could be confirmed within the next week. On the 15 min chart, there is also a cup and handle forming which if confirmed, could trigger a...
H&S target is not reached yet so I'm expecting another wave up. Buying blindly and looking to take profit this year. We might see prices around 50 in June, 2015
After looking at my GBPAUD dollar trade in the morning we noticed other head and shoulders patterns on the GBPCAD, we waited until the price broke below the resistance level and believe this trade will be completed within the next 6-12 hours. This is a pretty simple High probability trading set up and should be a really good trade. Trigger!
Good opportunity to go long after breaking the nick line, target one is the measurement of last shoulder to the nick line and target 2 is the normal objective of H&S pattern.
NZDUSD is on a critical point. It is on the way to form head and shoulders pattern. It is already on the support. Will it break or bounce? The time will tell. If breaks possible downtrend will be consolidated on 0.8410 levels. Then bounce back is another possibility for another shoulder. I am not writing to give any advice. It is only my personal thoughts. I wish...
AUDUSD just put in a nice head an shoulders pattern. How would you trade this? Short now? Wait for a break of the neckline? Look for a retest of the right shoulder? Tell me your thoughts.
Support line (blue dotted) holding could force breakout from channel. If so, bullish H&S forms. Backup play would be a bearish continuation.
This looks very much like a topping formation to me, especially with the market stalling yesterday before the previous highs (denoted by the "head" on the chart). I'd be interested in selling rallies, with at least a target of 1837, though preferably a much lower target; 1800 and the 200 EMA beneath it may also be viable targets.