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In the chart, plotted value is for GBP/JPY which has stronger CONTROL PRICE, value HIGH and value Low. The "Control Price" has complete control 1 to 7 as seen in the chart.
1) The 3 excesses detected at Value High and after the (h) excess with price rotation sellers have complete control over the value.
Looking to catch the right shoulder before CADCHF continues to the upside as I believe this is the beginning of a potential reversal from the major demand zone.
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Looking for a break of this current weak zone that price is within. This zone may make price stall for a short period of time giving traders false hope of a reversal and induce them to buy early. Expect price to drop down to our last demand zone giving us higher odds.
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Head and shoulders formation taking effect with a broken neckline, price has rejected from the weekly support (successfully closing above on the daily TF). Downside risk will be dependent on geo political risk , this affects the flows towards/out of the Swiss Franc.
Swing trade idea - Long BOO.
I’m took this position first thing this morning after reading the RNS - Another impressive set of results.
Looking to continue boucing off the 50MA before breaking out to retest all time highs.
Run the stop where you like. Below the MAs or below the lower trend line.