At the beginning of the downtrend, we can see that the trending environment is weak as waves 1-2 are quite long, which signifies larger retracements. However, looking at wave 3-4, we can see that it is short, which suggests a stronger trending environment. Thus, we can assume that there is stronger selling pressure as the market continue downwards.
what really makes a head and shoulders to someone ?
does it have to look like the ones you see in the example, (subjective still right ?), go to daily chart for better perspective , when things look muddy always go higher.
SET P.As at reasonable places consider price retests before breakout )as it does , if breakout achieved (anticipate retest of broken line)
(longterm) find entry on 4hr after signal shown on retracement line.
(late entry) after neckline as principle states but "F" that if you know yourself., tp could be before resistance line for safety or P.A and watch. if price is in that area at or near end of week , take profits and watch for break following week or so
Hochschild Mining was a higher yesterday against a backdrop of red in UK markets. The shares appear to have been in the process of bottoming out over the past few months and have now completed an inverse head and shoulders bottom. This is a powerful reversal pattern and suggest there will be more upside over the medium term....
Price at support level spiked up on positive Australian CPI. Now could be forming an inverse head and shoulders pattern. Divergence on indicators. Today's FED meeting should cut rates and weaken dollar (as Trump wants). This could be the trigger as the neckline breaks to go long. Good Luck!
Right, Right , Right! EURCHF Stumbled across some solid support before reversing Bullish. As you can see Bulls have been in control for some days now.
Price is approaching a critical resistance zone ( the grey price level price is approaching) where we may potentially see price pullback which may also been seen as 'profit taking' .
Price has potential to retrace...
This is a simple break and retest trade.
- We have a 4hr candle close above the resistance zone.
- Wait for a pullback and a retest of this zone.
- Wait for a rejection on the 1 hour or 30 min chart.
- Wait for price confirmation either an engulfing bar or pinbar.
- TP1 – 111.05
- TP2 – 111.64
- (This move to the upside then would create an inverted...
on the weekly and daily, I have seen price is in a ascending channel with price retracing to a support zone inline with the fib retracement of 0.618. On top of that, an inverse h&s appeared as well which is inline with the analysis as well.
It now appears that the Dollar is carving out an Inverse Head and Shoulders pattern. It is unconfirmed, however.
Taking out the recent swing low low at 93.81 would not invalidate the pattern. Conversely, taking out the swing high at 96.98 would imply a neckline break. The ascending neckline, if broken, implies a fast move up within a broad Inverted Symmetrical...