USD INDEX HEAD AND SHOULDERS BREAKOUT

U.S. Dollar Currency IndexTVC

Description

⋅ Sep 26, 2017 7:42 PM

This could be a big move for FX traders as the US Dollar Index is approaching the neckline of the recent Head & Shoulders pattern.

A sustained break could end the sell-off that started with the beginning of 2017.

No need to rush in the pattern! Give it time and wait for a real breakout and confirmation.

Trend Analysis

Comments

MAS-Trading

⋅ Jul 28, 2018 1:19 PM

@Tradeciety - Nice pattern, what I also like in your pattern is the Hammer as your Head, then your Right Shoulder looks like a Bullish Engulfing pattern? These are very strong indications that it wants to change direction. What other signals of confirmation would like to see for further confirmation? A full candle close above (is that a Supply and Demand Zone?) or Support turned Resistance area? Anyway, a full candle close above perhaps? Or a continuation passed that zone with a retracement back to test the support area, then continue on up?

PriceActionPmlani

⋅ Nov 5, 2017 7:28 PM

lovely

raymc

⋅ Oct 13, 2017 12:32 PM

Hi Rolf, thanks for your usual thoughtful post. Reviewing now, as the chart has developed since your post, would you agree that the IHS has developed more clearly now, with the neckline @~94?
Kind Regards, Ray