Looking for a completion of H&S pattern. New update will come.
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.
Looks like a head and shoulders pattern on the 30 min for the iwm too
Tight stop-loss above H&S neckline extension (thick orange dotted line) Great risk / reward ratio of 6.7 Amazing 2.6% Profit ( x2.5 leverage on Bitfinex: 6.5% potential profit )
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.
Reverse Head and Shoulders formation on the 5 minute Chart. Looking for break of the neckline to get long.
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