1) Price broken neckline
2) Price at a major zone
3) double top rejection - potential rejection
4) need to wait for a retest towards neckline with clear rejection off
5) Price moving in a bearish pattern towards the major zone
Reverse Head and Shoulders pattern formed showing two necklines one horizontal - neckline 1 - and one diagonal -neckline 2 - giving two different levels for closing long positions first at 2580 and second at 2640
price currently on neckline, breaking out of this area i doubt will be straight forward , 1 of two things , price will retrace back to resistance showed on chart and break downwards (where the first sell might take place) , if price breaks neckline immediately, initiate sell , smart stops should be placed , a bit above neckline so you don't get stopped out...
On Jul 9th price broke below the neckline. Yesterday retested the neckline and was rejected lower today after a results announcement.
The 200 EMA is sloping down and price is below the 200 EMA.
All in all #bearish
This pair has entered the consolidation zone once again after failing to match the previous high. The head and shoulders pattern is 95% complete as price is looking to retest the neckline once again and a break of this would be further confirmation that USD/JPY would melt taking out the monthly support and beyond. On the daily timeframe the recent bullish move...
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...
The price seems to be in a steep bullish channel. This price has managed to reach a level which has previously successfully held as a strong resistance level, if the price is able to break this resistance level then we should see substantial bullish gains. But if the resistance level holds this might cause the price to break out the bullish channel, this can lead...
Please like and subscribe if you want more analysis from me... I will appreciate that.
What's the point for OPEC to cut oil supply if America flooding the market with it?? The only one question, for now, is whether oil rally will end at the end of December or at the beginning of first quarter of the year 2018?
Read this Article:...
Currently, EURUSD is in a shoulder-head shoulder pattern. If this formation is confirmed and the neckline breaks, the first profit target is at 1.1700. If you trade this pattern by mirroring the height at the neckline, the target is even 1.1500.