paulDtrader
Long

Developing inverse Head and shoulder on the daily?

FX:EURUSD   Euro / U.S. Dollar
62 0 4
THIS IDEA MIGHT BE CONTRADICTORY TO WHAT THE POPULOUS MIGHT THINK, BUT I THINK TECHNICALS DO NOT LIE. THERE IS A NICE H&S FULLY DEVELOPED ON THE DAILY WHICH IS NOW READY TO ASSAULT THE NECKLINE SHOULD PRICE GET REJECTED BY THE BOTTOM OF THE UPWARDS CHANNEL.

ALSO, BOTH THE 20 SMA (BLACK LINE) AND 50 SMAs( BLUE LINE) HAVE BOTH CROSSED THE 200 SMA (RED LINE) SIGNALLING A LONG PLAY.

I COULD BE WRONG BUT IT SURE IS EXCITING FINDING OUT.

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