Take a chance to get right pips Perfect HEad and shoulders on weekly chart of GBPAUD
Oil looking to shoot up now from here, avoid selling now
Just an ABCD Pattern from Econometric Basics that give us 3 diferents boxes with a exactly angle in wich we can determinate that the first angle is 45, then the following 2 pars has to be the sume of 45, that give us a nice way to trace our Dinamics Lines from the top. Also we can see a Range followed by a MINI downtrend if i can say so, making new lower lows....
1. Bearish divergence 2. Resistance zone 3. US disappointing economic data 4. US won't raise the interest rate ! 5. Euro relief rally 5. "Educated guess"
Two scenarios: start correction from end of the ABCD pattern or, if lower trend line downward channel hold, the descent to the level of 1.25 (fibo level) and from there upward correction.