Possible USDF H&S Forming
Maybe a bit early, but looking at current market data I have plenty of reasons to believe USDCHF is forming a Head and Shoulders pattern.
For instance it would agree with UJ Seasonality. Trends of CADCHF and CHFJPY allow you to see where the third pair USDCHF is heading, a correlation technique I often like to use.
Momentum of the three pairs is forced by laws of nature, simple math applies, i.e. for the price we may roughly say, USDCHF = CADCHF x CHFJPY. Check out the scales left and right.
Cheers,
Arnaud
For instance it would agree with UJ Seasonality. Trends of CADCHF and CHFJPY allow you to see where the third pair USDCHF is heading, a correlation technique I often like to use.
Momentum of the three pairs is forced by laws of nature, simple math applies, i.e. for the price we may roughly say, USDCHF = CADCHF x CHFJPY. Check out the scales left and right.
Cheers,
Arnaud
Trade active
Instantly active but also continues once the pattern completes obviously.Note
Ayo, to early indeed. New head right there.Note
Divergence between CHFJPY and CADCHF when CHFJPY is rising will cause USDCHF to fall if the accumulated pressure of the first two overpowers the last one, additionally this should be valid throughout the market with UJ, UC & CJ the most powerful triangle imho.Note
More downside to come. Likely up to the end of May..Trade active
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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.