Normally you see a H&S at the end of a bull run, instead of a corrective structure. But the concept should be the same?
Anyway, it looks like we may be creating a potential right shoulder as we speak. We were expecting a correction before continuation to the downside, right?
If this happens, the price will be pushed back into the HTF bearish structure with potential continuation to the downside. And will allow for clean trades on USD pairs.
Let me know your thoughts.
Anyway, it looks like we may be creating a potential right shoulder as we speak. We were expecting a correction before continuation to the downside, right?
If this happens, the price will be pushed back into the HTF bearish structure with potential continuation to the downside. And will allow for clean trades on USD pairs.
Let me know your thoughts.
Note
All trades are in good profit thanks to DXY. It is the only thing I am watching today as it will signal me to stay in all my trades or early exit. Assuming we get continuation from DXY, then I'll let the trades ride and see if they can reach the targets.
USDCAD TP1 already hit. But honestly looks a little weak.
GBPUSD TP1 already hit.
GBPJPY Entered a little late on this one. A little choppy but at least going in the right direction.
EURUSD Entered before the breakout and scaled in a little while back.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.