I think its a pretty clean H + S on the larger time frame, the 109.7 region has been rejected twice on asking and a pull back to minimum 109.3 is almost complete. Although this region has held previous I think a breakdown from the neckline could see 109.8-109 at least, with possible further downfall to the previous support levels at the 107 areas. Entered a short position at 109.6 now in a free trade hoping to squeeze the profits.
1. Watch for significant pullback at the 109.3 which would mean a rejection of the pattern and could see 111 just as easily.
2. If 109.30 fails could short opportunity down to 109 levels. TP1
3. 107 regions more ambitious and long term but could leave mall entries in for bigger gains.
Of course all this could be invalidated if Trump heads over to Japan right now and the Dollar starts rising again.
Just an idea, feel free to leave constructive criticism.
1. Watch for significant pullback at the 109.3 which would mean a rejection of the pattern and could see 111 just as easily.
2. If 109.30 fails could short opportunity down to 109 levels. TP1
3. 107 regions more ambitious and long term but could leave mall entries in for bigger gains.
Of course all this could be invalidated if Trump heads over to Japan right now and the Dollar starts rising again.
Just an idea, feel free to leave constructive criticism.