Watch this Pattern: CADJPY Daily H&S

Canadian Dollar/Japanese YenFXCM

Description

⋅ Mar 27, 2015 7:41 PM

A potential head and shoulders with a neckline around 94.20, watch this if it breaks we will probably retest the lows.

thefxchannel.com visit.. vote..subscribe

watch-this-pattern

Comments

CryptoPAMM

⋅ Mar 30, 2015 8:13 PM

Just had my confirmation on the short, though would be nice to share :) tradingview.com/v/ZqC1y2mi/

HamedAghajani

⋅ Mar 29, 2015 10:22 AM

Added to your analysis, the past seven days trading range is inside the 18MAR trade range. Pretty interesting consolidation, and accumulation of momentum if it closes below the level you defined.

tcas

⋅ Apr 2, 2015 6:29 AM

I'm in long position after perfect daily pin bar with good resistance level.

Technician

⋅ Apr 2, 2015 2:18 PM

sounds rational. as i said earlier it looks bullish.. Good luck

MuathAlBulbul

⋅ Mar 31, 2015 8:31 AM

Neckline almost broken, waiting for an update!

moneymaking

⋅ Mar 29, 2015 2:17 AM

Hey technician, so if we break and close below the neckline, then a valid entry would be after a retracement back to the neckline?

Technician

⋅ Mar 29, 2015 9:00 AM

Yes mate, i would do that

moneymaking

⋅ Mar 29, 2015 7:32 PM

Thanks and Good Luck to you :)

Realisto_FX

⋅ Mar 29, 2015 9:47 AM

Hi moneymaking, another way to proceed is to enter @ mkt , with a smaller lot size and add shorts in the retracement. This guarantees you don´t miss the train . This is a clear bearish trend

Technician

⋅ Apr 1, 2015 4:30 PM

No confirmed breakout yet, price formed a long legged doji, possibly rebounding higher