- Price is close to first target of previous H&Sh pattern, which also could be considered as a Rectangle.
- A double top price pattern could be formed (look for it)
We go short if:
a - Price breaks down the small trend-line
b - Price reaches to exact target of H&sh
This is only how we interpret the market
- The price is breaking the previous importance resistance
- The price is pulled back to 62% fibonacci retracement level, which MIGHT break it up.
- Commodity Channel Index entered the bullish area (+100)
- Vortex trend Identification signaled a bullish trend in Daily
This is just how we see the market.
- Daily trend line break (confirmed by 3 days)
- ADX is crossing up level 25, which if happens, signals a strong bearish market, considering -DI is in action.
- Vortex Indicator which works well on DJI, shows a cross up signal by level 1 with bearish outlook
- Price supported at 38% Fibonacci Retracement, now is resisting at 23%.
- Resistance from the previous top
- Head & Shoulder pattern - Visible in H1 , With neckline breaking now
- Fibo retracement 23% level is also breaking down
- Change of slope in Bollinger bands
- TRIX signalled the top
- Vortex shows start of a bearish trend (Cross of Red line with level 1)
This is a personal realization about the market
- The support area matches 62% Fibonacci Retracement
- The support area matched 62% Fibonacci extension (a,b,c)
- RSI also might form a double bottom at the oversold area
- CCI Index is back to neutral area, the sell pressure weakened
- M15 trend line is broken and now is testing.
-The formation seems to be H&Sh (not verifies yet)
- H&Sh (if verifies) formed in the key resistance range, visible in Daily and H1
- The head is formed at 0.618% of Fibonacci extension.
Let us know what you think
We don't take responsibility for anyone's loss. Do you analysis before trading.
Past 3 Weeks Summary (Only trading Signals not educational materials)
From left to right in each line you see:
#---Date---Pairs---TP---SL---Reward/Risk Ratio---Maximum Draw down- &-Duration
1 Oct. 24th Aud/Nzd (H4) +53 1.6 13 pips 6 Candles
2 Oct. 27th ...
Since technical analysis became pervasive these years, we see lots of false breaks. Every day we catch couple of them.
Despite the bearish divergence between RSI and price, bullish channel break down and Neck-line break-down, Could we consider this a false break?
Please let us know what you think. or leave a link to a solid analysis on USDJPY.
Please not that...