Head_and_shoulder
Until DXY beats this price, this is just a bear flag!Traders,
The dollar continues its journey down. So, is my H&S pattern still intact? Well, on the weekly it is. Does that count? I think so.
It's not like the dollar has turned the corner here and growing stronger. We are still very much in a downtrend. Even that right shoulder is still valid. And, like I said, on a weekly chart that neckline still holds. Once broken, the dollar is in trouble.
What would invalidate my H&S pattern? Well, if the dollar beats that 50 day moving average and then proceeds to move up and above that 103.53 level with confirmation, I might be wrong and would have to re-evaluate at that point. Until this time, the DXY has formed a classic bear flag and I expect weakness to continue. The weaker the dollar, the more dollars it takes to buy a thing. The more dollars it takes to buy a thing, the higher the prices will go to reflect what is needed. This includes stocks.
Stay tuned as we keep our eyes on this unfolding event.
Stew
AUDCHF - Head and Shoulders📉Hello Traders!
On The Daily Time Frame, The AUDCHF Price Formed a Head and Shoulders Pattern📉
The Neckline is Broken 🔥
So, I Expect a Bearish Move📉
i'm waiting for a retest...
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TARGET: 0.57360🎯
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Possible revers on USD$Hi, i think there is possible revers on USD.
it's may be fake breakout of the Channel as what happened in the past when the fake breakout appeared on the down of the channel ( the red circles )
the target is the down of the channel, however it can break the channel to complete the wolf pattern
Fails if it move above 120-121$ .
FIL Bullish Opportunity !?On the day chart has a potental head and shoulder pattern
And we need to find a good time to set up our position
On 4 hour chart there is a apotential double bottom
If it break out (4.742) and stand firm
SL at 4.172
We can get more 5% profit than waiting for H&S pattern complete
and we can set TP 1(5.00)
Back to day chart
If 1(5.00) be breakout and TP as below
TP1:5.626
TP2:5.879
TP3:6.421
TP4:7.300
Gold to 2050.Gold is still consolidating in big time frame, now we are getting huge confirmation to go up which is H&S ( reversal pattern ). 1940 is the area to check, 1985 is the neck of the H&S. If Gold able to break H&S we will see 2050 which means 4th time to checking that area in 1D time frame since August 2020.
🚀📈Gold Alert! Bullish Breakout from Head and Shoulders PatternGet ready for a potentially lucrative opportunity in Gold! The shiny metal has formed a compelling bullish setup with the emergence of a head and shoulders pattern. After our successful venture with GBPJPY, we now have another exciting prospect to capitalize on.
The head and shoulders pattern has proven its reliability time and time again, and now it's making an appearance in the Gold market. This classic chart pattern indicates a significant shift in market sentiment and often leads to a powerful bullish breakout.
With this setup, we have the perfect opportunity to take advantage of the bears getting trapped in their own game. By strategically placing a buy position, we can ride the upward momentum as Gold aims for new heights.
Our initial take profit target is set at 1957, a key level where we expect a significant resistance to be tested. Beyond that, our ultimate target is 1975, as we anticipate a continued surge in price. 🎯🚀
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful !🚀
NZDJPY - Bearish Head and Shoulders📉Hello Traders!
On The Daily Time Frame, The NZDJPY Price Formed a Head and Shoulders Pattern📉
i'm waiting for a neckline break!
Then, we will see a huge bearish move📉
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TARGET: 84.050🎯
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if you agreed with this IDEA, please leave a LIKE, SUBSCRIBE or COMMENT!