spursvestor
Long

USDCAD Head and Shoulders

FX:USDCAD   U.S. Dollar / Canadian Dollar
183 4 1
The right shoulder is being formed, this confirmed by volume jump. Its final peak can be estimated at half the distance of the head from the bottom resistance line. A safe zone for a sell is 1.34085 if you buy now at 1.32609. Ultimately this can be a short if you go into to july with the trade right now it is a buy until the peak is complete. Long until mid April and Short after that.
Comment: It has broken its angle of descent. Now we see if it takes a turn here on a pivot today.
Comment: this PA has not failed yet.. we will know more by end of april
Comment: I was right but off on the bottom. The new high point is between 1.31 and 1.32.. Short at that point
Comment: so far so right, aug you will see the greatest profit from your short. 3 months from right shoulder forming
So far so right, aug you will see the greatest profit from your short. 3 months from right shoulder forming.
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I was right but off on the bottom. The new high point is between 1.31 and 1.32.. Short at that point
Reply
What does that volume jump has to do with indicating that it is going to be in line with a h&s pattern? It could continue rolling down at this point for all we know.
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spursvestor Ambipath
Volume jumps using PA generally indicate the trend has taken a direction.
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