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Invertedheadandshoulder

AUD/JPY DAILY INVERTED HEAD AND SHOULDERSPrice Action (Technical Analysis): Market Closing last week, we had price continue to drop after a big push from our monthly low to our consolidating resistance showing us price might be experiencing an exhaustion retracing to our left shoulder support which is at our high probable retracement from our bullish impulse, the 61.8%. This can very well be an entrance into the market with proper candle-stick reading if price does rally to our ideal right shoulder retracement. A smarter approach to this scenario would be to look for a possible entrance after price breaks out to the upside confirming an uptrend then expecting an exhaustion to previous structure and calculate our exhaustion with our Fibonacci Retracement Tool. If price does follow this sequence then we would have confirmed an Uptrend breaking out of our Monthly Support, a Breakout of our Inverted Head and Shoulder Pattern. Calculating our Exits after an Entry after a pull back to our Inverted H&S Neckline would be to our Descending Trend Line / Downtrend Exhaustion Retracement 61.8% / 200 Day EMA Resistance Indicator. Fundamental Analysis: Anticipate High Volatile Market Pushes, we have both our quote and our base being evaluated and reported through Red Folders Mon, Tues & Thurs.
Long
by RiosTrades
USDCAD: Do you see it?There is an inverted head and shoulder on the shorter time frame. The pair has failed to make new lows after a crazy start to the year. This indicate to me that USDCAD will continue its way back up. Wait for the neckline break to buy on a retest. The retest will make the BC leg for a bat pattern forming for a short opportunity. Target 2 on the Bearish bat will also give a great long opportunity to continue longing this pair to the upside if it make newer high above 1.32100. Trade with care :D.
by AbdorhmanThi
AUD/USD potential inverted head and shoulders - Short term sellAUD/USD did not play out how we predicted last week! Trump's press conference gave USD a chance to correct and give this pair a push higher to break support and this descending trendline. AUD/USD is currently sitting at key weekly support which price reacted off nicely recently. We will be looking for a pullback to the 50 fib/next support at 0.7350 to form a right shoulder of this potential inverted head and shoulders, then longs continue past the neckline at 0.7500 to hit the 61.8 extension at 0.7700 to complete the pattern. Due to such a strong bullish weekly candle the bulls could easily keep pushing and not give a pullback so we will watch this one closely
Short
by Trader_Troy