Potential Reverse Head and Shoulders Pattern Spotted
While the markets are looking long overdue for a pullback, the dollar, in direct contradiction (as it should be!) looks to be ready to move up (strengthen). A potential reverse Head and Shoulders (H&S) pattern appears like it could be forming on the daily. This coincides with the theory and timeframe of my prediction regarding The Fed's upcoming meeting in June, interest rate increase, and the DJI (see link to related ideas below).
Trade closed: stop reached:
Closing. The pattern has been nullified with the most recent drastic drop!
Closing. The pattern has been nullified with the most recent drastic drop!
Stewdamus Trades -
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us
Re-adjusted Head and Right Shoulder to account for latest price action. Still a strong potential. Keep watching this folks!