spursvestor
Long

USDCAD Head and Shoulders

FX:USDCAD   U.S. Dollar/Canadian Dollar
179 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
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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I was right but off on the bottom. The new high point is between 1.31 and 1.32.. Short at that point
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So far so right, aug you will see the greatest profit from your short. 3 months from right shoulder forming.
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