bullish cup with handle pattern seen on dxy.
If this is not a potential head and shoulder then what is a head and shoulder?!
A serious move is cooking here, of course price keeps pushing higher. That's the game the market plays, zero sum. Your short was the reward of another his long. But this looks toppy. That's for real! I will monitor for shorts, this might be the only trade I'm interested in for 2017 and further. We all have been speaking about the big short. Let's welcome it soon!
This pair has more room up, 1000 pips could be made easily on this long side. Crude oil is about to hit resistance and this might complete the puzzle. Also I see this small leg down as a consolidation, which looks like a bullflag too! Here is the crude oil idea i posted last week. Also I posted an idea on the DXY:
DXY is extremely pivot and yesterdays hammer had a follow through today with a consolidation and an impulsive UP. At the moment it is finding support at the long term channel with the horizontal multi year pivot level. Weekly shows a bullish div. I hope you guys are at the right side of the trade, because this one has a long long way to go....
Buyers need to test the power of the sellers, the decline was huge, but this looks like consolidating for a move up.
Buy xxxjpy, short jpyxxx, short gold, short silver GL
Some serious and crispy trade setups are being shared in my private trading group. You can see the earlier setup, no backwards editing: Feel free to join this private money making group!