SHS structure forming. 75%fib hit for reversal. Price hit consolidation level.
- SHS structure forming - Inside a downtrade - Entry point would coincide with 75% fib retracement
- Price could even fall to 150.780 and do a double bottom - Expecting to hit 0.85% - Then reverse and hit 0.75% uptrend
- Price in a sharp wedge, continuation pattern - Price to hit 50% fib retracement and continue - Price would also hit double bottom as it continues in larger timeframe
- Price is currently in a correction in an ascending channel - Price is at the top of the channel, once it falls to 50% fib retracement would coincide with the bottom of the trend line and also small consolidation - TP would coincide with double top
- Price inside an impulse - GJ has been bullish for weeks, this to continue at least for now - Price in a breakout structure.
- Price inside a correction - Price to break line and do a breakout - Price just did a double bottom - TP would mean price hits 50% fib & double top
- Wedge pattern indicates a continuation of the trend - Previous bear candle made a small imbalance to be filled - Once imbalance filled would coincide with 50% fib retracement and continue trend.
- A falling wedge indicates a continuation pattern. - Pattern hit the 85% fib. - Inside an ascending trend shows this is just a correction.