USDJPY INVERTED H&S POTENTIAL?
(This is an idea) after playing around.
-The current market sentiment is in a downtrend.
-Price has already made a Left shoulder & a Head for this structure.
-4H chart; Price holds at green zone resistance, so a potential ADAM/ADAM DOUBLE TOP:
-Price is below the 200 EMA.
-15minute chart: Harmonic pattern formation:
-The current market sentiment is in a downtrend.
-Price has already made a Left shoulder & a Head for this structure.
-4H chart; Price holds at green zone resistance, so a potential ADAM/ADAM DOUBLE TOP:
-Price is below the 200 EMA.
-15minute chart: Harmonic pattern formation:
Note
See the wedge: Note
See the triangle: Note
Of course, the right shoulder can be smaller and usdjpy can break neckline to go higher. However, I believe its early due to the expanding wedge formation.Note
Price has moved significantly higher, could be on the rise.
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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.