I saw this and knew people would want to short that H&S shape, but the thing is they rarely work.
I got a limit buy waiting at 118.94 with a stop at 118.47.
Should be interesting. If this fails and usd falls today, I also have a usdcad short running.
I did note below you were not trading that pattern, and all I'd add to that is that a true H&S requires a volume component that is *vital* to validating the signal. Without volume, H&S is little more than human minds trying to form noise into signal, something we're pretty good at, regardless of the actual presence or absence of any signal. :) Cheers (And now Fed minutes & old Sankei news coming across the wire has made the play work.) Magic. :) :)
Anyway, as said, I traded the 2618, which turned out pretty well :)
Yes, I'm aware of the problem of trying to assemble global volume data. :) The largest dealers, however, probably correlate > 0.9 in many cases, but there are going to be times of course when they're off the mark by quite a bit.
I'm really "old school", so while I don't make decisions merely on volume, I still like to consider it, especially in weekly TFs. Cheers