-This presents a bearish H&S setup, but the volume is not showing signs of distribution.
-Volume actually looks loaded with accumulation throughout the entire range.
-First 2 peaks showed Delta Divergence (Bidder Short Orders), but no Delta Divergence on this right shoulder.
-COT shows the Large Specs accumulating EUR/USD, which probably affects EUR/GBP pair.
Conclusion
-If I short it will be at a neckline break.
-Otherwise long if we reclaim Monthly Open.
-Volume actually looks loaded with accumulation throughout the entire range.
-First 2 peaks showed Delta Divergence (Bidder Short Orders), but no Delta Divergence on this right shoulder.
-COT shows the Large Specs accumulating EUR/USD, which probably affects EUR/GBP pair.
Conclusion
-If I short it will be at a neckline break.
-Otherwise long if we reclaim Monthly Open.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.