TF: 8 Hr Possible H and S formation on the 8 hr TF. This has formed after a strong rally, and price may due for a corrective pullback. I think a retracement to the .318 looks like it may be a good area to look for longs. This retraement area offers a few bullish confluences: 1. Area aligns with with a former broke resistance zone; 2. The 0.382...
GU has been trending up for a while now.... This head and shoulders situation is giving good possibility go down some more on this current pullback
Hello everyone, as we can see he have a beautiful head and shoulders pattern that we have broke bellow the neck line. We also see divergence on the weekly and monthly timeframe, so a bigger drop is most likely going to happen, because we had way too steep surge and we needed such pullback. For now we should trade only the head and shoulders with the given take...
Will Nomad breakout or form another shoulder to match the other side? Time always tells.
update for - Still bearish!! #notfinancialadvisor #DoYourOwnResearch
TF: 1 Hr Possible small H and S forming on the 1 Hr. Could see some downside from here if the formation holds true.
A brakeout of valid trend combined with an emerging head and shoulder pattern risk: reward ratio is 2.49.
TF: 2 Hr Possible inverse H and S on the 2 hr and 4 hr TFs. Bullish divergence can be seen developing on the RSI and price has retraced and is currently trading in the golden zone (between the 0.50 and 0.618 levels). May be see some buying here to complete the right shoulder and move up from there to ~123. See my previous EJ forecast here:
Possible H&S also in the making with targets in #FVG
We are waiting for the creation of the second shoulder. If it is confirmed, we can enter the short position. Good luck.
I think In the next 2 days, gbp will make a fuss! Hurry up !!!
As per my original idea I got filled for my short!! I was expecting a Bearish divergence to be printed but seeing nothing on rsi so far, will check other indicators, there are div printed on 3hr & smaller timeframes once we have them on HTF like 12H & 6H i will be more confident till then take profit at every 100-400$ drop for now keeping an eye on this H&S...
i see the head&shoulders pattern there - short to 29.
According to insta id: FX_IRI will increase the pound's trend line if it breaks
MARICO has made Inverted head and shoulder chart pattern. Can take a long swing trade targeting the previous swing high if there is breakout of 322 level. Entry above 322 Target 350 SL 308 ( 1:2 RR)
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.