There are positive "trending" momentum readings on all time frames from wk -> Day -> 4HR, and positive weak momentum on 1HR.
These readings are there irrespective of the oscillator indicator yr using.
This would mean that what yr seeing is an inverted bottom not a double top.
When a retraction occurs in 1hr momentum price could test 149++ (149.2->149.6), (right inverted shoulder) to the formation shown above, which would be a good buy to 153 level.
Price is even likely to break the market top on the strong NFP #s last Friday. You could then buy a retraction to the market top which would act as a broken neckline. Target again 153.
** We always need to correlate momentum on different time frames with an H&S pattern to tell the probable direction of breakout.
Take Care & Trade safe
phumlani_
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@Summerset, thanks a lot for your input, and its going according to your view
JoeSedona
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I’m on the edge with this pair. Great analysis. This is what I’m waiting for. Keep posting. Thanks.