Potential bull flag looks like it could complete the formation of an inverse head and shoulders, both indicating bullish price action. Although this can indicate bullish price action BTC/USD would have to drop to around the low 7k range to make these formations valid and before expecting price action to break to the upside.
The analysis published is of the GBPJPY pair. The potential opportunity I am presenting is a long position. Why ?
The thoughts behind this are the potential formation of a inverted head and shoulders pattern. The trade was entered on
the right shoulder that was in the 0.5 and 0.618 fib range, where it has since pushed upside. I entered the trade at 130.800 and is...
eurusd came back into demand zone which was respected on the higher timeframes. Price came back and has created an inverse h&s which should indicate that buyers are going to come in control and raise price.