Heandandshoulders
GBPJPY 1HR ANALYSIS the pound has been doing very good against the yen with breaking new high since start of the year, looking for it to break recent highs and break and retest with a good risk to reward ratio a nice head and shoulders pattern is forming.
MikeGBP
SUPERMAX strong movementBroke out Inv H & S. Touched fibo 1.618. Forming a triangle (pennant). If breaks out, expect more form it.
NEO - Inverse head and shoulders pattern?An inverse head and shoulders pattern is comprised of three component parts:
1. After long bearish trends, the price falls to a trough and subsequently rises to form a peak.
2. The price falls again to form a second trough substantially below the initial low and rises yet again.
3. The price falls for a third time, but only to the level of the first trough, before rising once more and reversing the trend.
USDCHF - Short I see a breakout from ascending wedge.
I see a retest of the breakout forming a Head and Shoulders pattern in the One Hour.
The blue arrows are representing selling pressure.
The green circle indicates a break of structure to the downside.
Bearish.
Fibonacci levels are being hit in the breakout area (Supply)
For these reasons
I am looking for price to retest the second breakout the green circle and show a bearish signal.
Then I will enter short position.
Microsoft updateThe right shoulder finally finished. Now testing the trend line. Hold the shorts and wait to add on the retest of the green buy zone as we pullback and sell more at the high of the pullback.
Shares across the board start showing reverse patterns on daily and weekly time frame. Could indicate that the recent indices rally won't last and will reverse soon.
Good Luck!
GBPUSD HnS Pattern and SSRwe can see GBPUSD here is approaching SSR (SIgnificant support and resistance) zone and already forming HnS pattern
i recommend to buy and green zone since there was big rally occured
however, if you guys want to take SHORT i suggest you to wait until breakout confirmed,then retrace at Greenzone, wait for price action/chart pattern, then go Short
USDJPY Pattern and Zone trading There is an ascending channel and appears to be a breakout and retest of the trend line and looks likely that price will continue to the downside.
I will be aiming to take a position short on this.
- Wait for a 4hr candle close below the resistance zone .
- Wait for a pullback and a retest of this zone.
- Wait for a rejection on the 1 hour or 30 min chart.
- Wait for price confirmation either an engulfing bar or pinbar .
- Sell
Let me know your thoughts or any other ideas
Thanks
Nath
AUDUSD decent formationAU is currently forming the right shoulder of a potentiall H&S pattern inside the short bullish trend which looks like it has met its end as it touched a major daily trendline and the Stochastics in 1h and 4h are indicating a clear sell coming through.
EURJPY ShortOnce again I want to apologise, for the previous post.
Honestly it's been a f**ked up week, reason for that a lot of fundamentals news especially from GBP ( Brexit which affected EUR also)
EurJpy was for sell, but brexit news sent EUR higher than it should,
We had dollar news (very very good) but the market didn't respond, very confusing.
My fav quote about forex: "It's not about how much you win, it's about how much you lose" - just lessons learned!
My prediciton for EURJPY this week: We ended up Daily as Doji and a previous Shooting star ( potential Evening Star Formation)
A clear break of 126.000 (1h or 4h) and we go down, a good entry which I also I'm waiting is when this pair make a new lower high
1H. I'm very sure that we will have a gap downside because of good news of jpy sunday, so when that gap comes the pair
usually tends to fulfill that gap, so that is where the entry should be. If we manage to break 126.570 we go up until the previous High.
If we look daily we have a potential right shoulder formation.
Watchout zones: 125.530, 124.830
If we manage to go down, the first target will be 124.000 ( if we manage to break that the next target will be 122.000 Weekly Supp)
but let's see what happens because of the deal USA CHINA yen will get weaker ( there words that the deal was delayed until April)
so until then EUR down we go.
Also watch for Eur news (tuesday : German ZEW Economic Sentiment) which could give EUR some hype.
Maybe a potential new lower high, if you see Eur news for the coming week there aren't much news,
But watch carefully EUR news friday (huge news for the pair).
If we manage to come until 124.000 or nearly that level until friday ( please be careful, because a potential reversal may occour) - strong support for this pair.
Trade safe guys.
Daily Pontential Right Shoulder. A lot of rejection from that yellow zone.
Watch list - also GBP pairs (really good news for sterling)
INVERSE HEAD AND SHOULDERSRight after that perfect ascending triangle breakout, ETH started forming a nice head and shoulders, and is in the process of perfectly breaking out of that. Still got my position in at 144 from when I called the 38.2 FIB Range.
USDJPY - let's buyThe current bullish trend started with an H&S pattern on the price of 104.6 that indicated a reversal.
Afterward, the marked formed ABCD pattern that confirmed a bearish correction (112.6) and got back to the upward movement with another H&S (110.3).
Then we have a flag that confirmed a trend continuation (112.6) and our target is 116.6 - historical resistance line which several times reversed the market movement.
Head and ShouldersA Head and Shoulders Pattern is a chart formation that resembles a baseline with three peaks,the outside two are close in height and the middle is highest
In TA this pattern it s essential to predict when a bullish trend will be changed to bearish
This Head and shoulders pattern appear when:
After long term bullish trend the price rises to a peak and after declined to form a trough
The price will rise again to form a second high peak and declines again
And third time the price rises also but only to the level of the first beak before declining once more
The first and third peaks are shoulders and the second peak which is upper(heighest) will form the head,in this case head and shoulders will appear
