A head and shoulders reversal pattern with a potential target of 8k . 8k is where is in confluence with the 200sma on the daily - currently at U$D8040
The daily trend go to be a uptrend and trend is changing from downtrend to uptrend so what will happen show up in the chart the price will retest then go to down support level then after go to uptrend
WIthin next few hours there is going to be small pump till 9400-9500 and it will sharply fall to 7800 minimum.
The upper chart is point and figure chart The lower chart is line break chart
just looking at some basic support zones on UJ that I like. Clearly in a downtrend on the 30 min, going to wait for a set up and see if it breaks above and retests for a buy or drops below a previous support for a sell. Only looking for shorts for now as it is in a clear continuation to the downside for now. May 7 2020
AUDNZD Head and SHoulders Forming ?
Price in now in the middle of the major supply and demand zones. Price has broken the trendline within this zones. I wait for a retest of the trendline, round number and 61.8% fibo before going short.
Prediction never will be 100% always spot on. Always have backup plans if things don't happen as predicted. Level 28 seems to be the determinant, whether it will go up or down. This is for short term view. Long term view ( 1year): buy.
After the wick rejection at the support zone, I believed gold will trend up towards the last resistance zone. Simple but profitable. You can catch buys anywhere between the two zone, as price makes it's way back up.
USDJPY is currently in a major level of support where price can either go up or go down. Price is going to move down and form a perfectly executed head and shoulder Reversal. I see price dropping initially down to the last lowest wick, retracing back to entry and then making it's official breakout for the sell.
A head and shoulders pattern is a chart formation that resembles a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis , a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders pattern is believed to be one of the most...
head and shoulders has formed on the 30m timeframe, possible short