USDCHF: Head and Shoulders 1D. Start of purchase?
The price formed the classic inverted "Head and Shoulders" pattern, literally like a textbook. The neckline and three peaks are clearly visible. There is also a mandatory clear prior trend - in this case a downtrend.
After the completion of the pattern (breakout of the "neck" line)
the price should rise by the volume of the previous trend. We look for lines based on price extremes and expect the price to come to at least 0.904. The second target after the correction is the level 0.909.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
After the completion of the pattern (breakout of the "neck" line)
the price should rise by the volume of the previous trend. We look for lines based on price extremes and expect the price to come to at least 0.904. The second target after the correction is the level 0.909.
Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
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.
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.