MOAHAS - Mother of All Head & Shoulders Short

U.S. Dollar Currency IndexTVC

Description

⋅ Apr 1, 2023 4:01 AM

This idea is a continuation of this previous structure that has continued to form.

The follow through on that idea could be considered a fluke except it rejected the 1.618 to the pin.

I don't make the 1.618 rules. I just draw the lines.

The shoulder isn't formed completely.

A good chance DXY gets a second wind in the next month or two if CPI heats up again.

I make myself repeat the following rules before trading H&S

1) Set an alert reminder on neckline.
2) Anticipate a retest of neckline
3) Enter with stops based on RR.

Head and Shoulders moahas

Comments

JoeChampion

⋅ Apr 2, 2023 3:02 PM

It makes sense, especially when it comes to USD weakness!

superiorJaguar24882

⋅ Apr 1, 2023 4:02 PM

yep I was seeing a possible target of 89 coming up. but i dont think that will be the end of it. meaning a pullback then ???

SPYvsGME

⋅ Apr 2, 2023 3:21 PM

@superiorJaguar24882, thanks for sharing. zoomed out a pullback seems inevitable.

RatMeat

⋅ Apr 6, 2023 2:51 PM

i saw other weak patterns from other pairs but didn't see this. Thanks for sharing.

louistran_016

⋅ Apr 3, 2023 1:43 AM

if DXY daily candle closes below 101, does it open the possibility of a next leg down with target all the way at 92.5, or it simply means the H&S is completed at 101?
on the monthly chart, the MACD crossed bear for dollar strength. Most recently MACD crossed bear in Sep 2013, Feb 2016, May 2020 good things happened after