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IF we look closely at CADCHF we can see the left shoulder has successfully developed, as well as the head, now we hoping to complete another shoulder that will then lead to us ride all the way down!! for those with fit account they can sell this pair and hold it while it complete the other shoulder!!
If we break the neckline we should SELL very hard
If you look closely on EJ, it had a H&S, which is now completed, we know after H&S get completed, a move to the neckline will be next,
Completion of the H&S was also a retest to the double bottom that i indicated above.. so this means this pair will now go up!!
We are expecting this pair to fall following rising flag or bearish flag pattern
There are 2 things expected when the pair reaches 0.7470
1. A rejection that will form double bottom targeting 0.7860
2. A break down satisfying the bearish flag fall targeting 0.7230
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We expect this pair to fall because of the BEARISH FLAG,
there will be 2 things that we expect when we reach 0.7470
1. Rejection that will form double bottom with target 0.7860
2. Breakout that will satisfy the bearish flag continuation with target 0.7235
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We have seen a EURUSD going up for long,
it got rejected up to the neckline level, and when it was suppose to be rejected on the shoulder level it went though up, creating a head, it went back to the neckline, now we should be completing a shoulder then we go down for days!!