TheBull

Head & Shoulder forms?

FX:GBPJPY   British Pound/Japanese Yen
Are we seeing a Head & Shoulder forming?
dojitrader
2 years ago
Well, Yes, I can see a fairly harmonic H&S and I usually
don't like the pattern as it is so imprecise - especially with the neckline.
So, they quite often appear like UFO's it seems to me.
Traders will call some of the strangest patterns an h&s.
But, I digress . . .
Your chart got me looking and just for end of day thoughts,
maybe there is a H&S on a larger degree also in play at this time.
Time, and a broken neckline where ever you want to choose,
will tell the story.
Thanks for the chart and I hope you will fill your pockets with pips in 2014 !
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