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WTI Oil H&S 15 min ChartPatterns over a weekend are quite dodgy but let's see how this plays out. Head and shoulders forming (or arguable already formed and we're on a second right shoulder). So anyway the crucial thing is, do we break the neckline, and then will we hit our price target (calculated from the height of the Head from the Neckline) before we hit our stop (high of the right shoulder)? Interested to see. Anyway, the alternative scenario is the price breaks out of the green line and above the right shoulder. That would seem to indicate we're consolidating for another move up.
FX:USOILShort
by BobVanders
There is a bottom.... It's just not here.Every month there this point... Almost like a lunar cycle, where the army of optimists run out from under their cover to catch the enemy's blade. But not unlike the charge of the Light Brigade...the clearing smoke will uncover the carnage. As I said yesterday. We are in for some crazy days. But let's not think we can see things others can't. And don't be fooled by the first break above the main trend (when it happens). When it breaks, the ripple will roar... You will hear the whistle and calls to clear the trench. The enemy is smart and has proven his ability to play the long game. I expect we will see a few false starts, all will look like visions when they happen. Just beware... some of those visions are from the mustard gas. I know there are a few who made some bucks today.. Nice job! I know a few were ready at morning light. As for my account, it is worth less today, but it's worth more than last month.. and more than the month before that. So I'll be over there watching the circus. If you think the drop to the 40s was a show. Wait till you see the show for the 20s.. Camels on the horizon... Is that Sir Lawrence?? Or is it anouther under that sheet?? I'm short to sub 20
FX:USOIL
by BigEz
Bearish SPY Head 'n' Shoulders FormingThis head and shoulders pattern is almost text book so far in its present development. Volume is up on the advance of the left shoulder and lower on the advance of the head. We're missing that extra warning of the increase in volume on the decline of the head. There is, however, very weak rise in volume on the decline of the right shoulder. Combined with weakening breadth I'm fully taking it as a bearish turn. We still have to see that neckline support break convincingly with a nice rise in volume for the pattern to complete. The "rough guide" price target is ~195. Let's see what happens.
AMEX:SPYShort
by gurple
4
EUR/JPY - Possible H&S | Daily chartHey guys, as some have already noticed there seems to be a head & shoulders pattern forming on the daily chart. The 200MA acts as a resistance level for the shoulders along with some structure earlier this year. It all corresponds with the butterfly I posted earlier, so if it breaks around the 133.190 's we might be looking at a drop to somewhere around the 132,500's (the D point of the butterfly). Keep in mind though we had a massive fight earlier this year around this level which might be a cause for some disturbance. Let me know what you think! Thanks in advance and happy trading
by Stoelenbouwer
USDMYR: Incomplete head and shoulders formingAnalisa forecast ambe untuk USDMYR, matawang negara sendiri. Ringgit boleh jatuh dari 3.25 kepada 3.73 dalam masa 160 hari. Ambe forecast ringgit akan ke harga 3.25 semula dalam masa lebih kurang 110 hari lagi (September 2015) insyaallah. Sama-sama doakan untuk ringgit yang lebih bernilai, dijauhi dari malapetaka dan dikurniakan kestabilan. Buat masa sekarang harga dijangkan akan menuju ke Right Shoulder dan dijangka pergerakan menurun akan bermula dari situ (ditanda dengan garisan hitam, Bearish Wolfe Wave juga terbentuk disitu).
Short
by coffeeground
4