As we broke support yesterday on the massive H&S pattern (see below), now could be forming a inverse H&S on 1 hour, bouncing of 100% fib extension level.
If so MPO will take us to retest broken support there, before continuing a short. Indicators support with this divergence.
Daily chart shows inverse H&S pattern forming, divergence on indicators. MPO could take us back to the broken daily uptrend line. Ideal option would be to see another low on smaller time frame to buy with a better risk reward.
This suggests that markets in Europe should bounce next week. Perhaps as summer ends and investors get back from holidays we shall see...
A bullish shark forms up and it' inline with the head and shoulders pattern on the daily chart.
I believe in a longer-term appreciation on USDJPY but as for now, the bearish crab may draw this currency lower before a rebound.
What're your thoughts on this?
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This chart is a follow up on the idea that was discussed on twitter with John Bollinger himself regarding the May 2016 1D Bollinger head fake that occurred then versus the currently similar action on Bitcoin.
As you see on the comparison...
Unclear Head and shoulders pattern (Price is trading at neckline)
Channel with control price
For Oct. 2017, Over-Reaction observed in Nov and Dec 2017.
The month of Oct and 2018 have been seen Over-reaction with the change of the Volume.
Currently the Oct 2019, a price is out of the channel and it has been just...
USDJPY is has formed a classic inverse head and shoulder pattern. This pattern is seen as bullish reversal pattern after a sharp fall.
I have used the 50 day MA as a quasi trend line and on analysis across various time lines, it has been observed that it has serve as a good resistance and support level in the past.
After the inverses head and shoulder formation...
Before I get into the trade idea, I need to preface that I still believe that US equities will be going higher in the longer term. Not really for any fundamental reasons, but more so that the world is in a bad place and the US looks the best, albeit having a lot of problems. Martin Armstrong calls the US and the US Dollar the prettiest sister out of the three ugly...
This past week, price experienced a heavy move into weekly and monthly demand. Since then, price has kept moving up. I see a reversal in trend and thus this bullish trend is definitely starting
Additionally, a Head and Shoulders pattern has...
On the Weekly chart Gold has formed a Bull Flag (a somewhat volatile one) and if we look at the Daily chart we can see an inverted Head and Shoulders pattern.
The safe haven instruments have not reacted much to the drop in dollar and I think there is a big bullish move coming next week if dollar weakness is continuing - a delayed but more momentum strong move.
Ethereum is currently facing a major resistance level which is serving as a neckline for the ETHBTC pair!
IF Ethereum were to break the neckline at .0225 satoshi it would further confirm an Inverse Head and Shoulders pattern that appears to be forming.
Based on the Gods Envelope Cloud, ETHBTC has successful performed a trend change on the...
After putting in a retracement to retest previous structure lows the S&P is now trading at the right should of what may turn out to be a head and shoulders bottom pattern.
The head and shoulders is a classic reversal pattern & IF completed I would predict that we're likely to retest the previous structure highs which line up at a one - to - one measured move & a...