I think the bottom is here on this stock. What do you guys think?
Wait for confirmation of right shoulder completion. If it forms a bullish pin bar or doji then buy.
After a strong uptrend, the price is beginning to narrow between two converging downward sloping lines. Buy after the breakout.
It all depends how fast it can break support and retest resistance. But final target should be 750 approximately.
Cad/Inr broke above the rising wedge without retesting a major trendline. Means it will drop to retest the trendline. Just make sure you short it at resistance.
The descending trendline area indicated a retracement area. Once trendline was broken, retracement was done and going to make a new high. When measuring for take profit, we take the -0.382 Fibonacci from the retracement, which indicates a target of 2500 approximately.
It will bounce along the triangle for a while and eventually breakout out of the trendline. Buy at the support.
Price rallied and will continue to go up, because of breakout of symmetrical triangle.
Head and shoulder on hourly, and as well looking to Fibonacci the left shoulder is 50% of the head and the right shoulder is about 23% approximately. Sell now or when it breaks the neckline. Stop loss just above the right shoulder, which is still forming maybe. The pattern is perfect on this chart.
Aud/JPY is on a bullish rally on a weekly time frame and looks like its headed to 90. It has broken its neckline quite easily.
looks like the right shoulder is just about formed and if correct it will drop hard. Keep stop loss not to high and be able to catch a good risk to reward.
I'm looking for a drop to atleast to the top rectangle.
Price will go up to 1.1125 area to form the right shoulder and then fall heavily. Last time a head and shoulders was formed on eur/usd price fell a lot.
The dow jones is currently playing out an inverted head and shoulders on the monthly chart. This is unusual pattern as an inverted head and shoulders usually happens at the bottom of a down trend, not uptrend. But the pattern is in perfect shape. Direction is unclear at the moment.
Short EUR/USD for tp at daily lows at 1.0988
Price is moving down, while RSI hasn't made a lower low. And as well on the daily there is a bullish engulfing. Up trend will continue for a while.
Possible drop from here
Take profit 1482, measured my measuring the head.