JayDidder

AUD/JPY Head and Shoulder formation

FX:AUDJPY   Australian Dollar/Japanese Yen
28 2 0
Reverse Head and Shoulders formation on the 5 minute Chart. Looking for break of the neckline to get long.
lovelace
2 years ago
Head and shoulders is a reversal pattern. Bearish head and shoulders signal the reversal of an uptrend, and bullish head and shoulders signal the end of a downtrend. This bullish head and shoulders pattern is happening during an uptrend, so while it looks like a head and shoulders pattern, I don't believe it is. Your forecast may end up being right, because the market can go in any direction at any time, but the head and shoulders pattern that you see isn't really there. Keep studying, as I definitely am!
Reply
JayDidder
2 years ago
Thanks @lovelace, I appreciate the feedback!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out