USDJPY-Weekly Market Analysis-Nov19,Wk1I'm in for a breakout trade and trend reversal trade for this pair. I'm waiting for a retest of the base flag or even better, a Bullish Shark Pattern for a buying opportunity and extend the target upwards.
Headandshouldersbottom
Confirmed buy signalIn my view this is a good quality technical setup with low risk
1. Good support on the weekly time frame
2. Inverse head and shoulder pattern on D1 - a reversal pattern found on major support? How lucky :)
3. Pullback to the fibonacci zone
4. Pin bar signal candle
5. Moving average pinned
This trade setup can be traded with a provisional target and if the resistance pops there can be MUCH more profit that can be realized.
See the daily time frame view
Don't invest what you can't afford to lose. This is not investment advice. Subjective view/report of a financial product only.
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Perfect example of head and shoulders set up with neckline dropHere we can see the formation and execution of a perfect head and shoulders form with a negative drop. The drop exceeded the neckline and mirrored the initial rise as seen opposite the drop in previous weeks.
Another bounce off of this small triangle?We appear to have put in a inverse head and shoulders pattern indicating that we might bounce of this support region again and make another bounce off to 10150~
This is what it might look like, we might finally breakdown and enter the outer triangle, there is a possibility we break out of that aswell
Inverse Head and ShouldersPT: 78; 8% higher than current PT. Secondary PT 82.78
Macro oil market due to instability should easily push SP to target
**BREAKOUT ON WATCH** Head and Shoulders InversePT (based on pattern alone)≈12; 17% higher than current SP. May be signaling primary trend reversal.
DR Reddy (Head and shoulder pattern)We can see a head and shoulder on Dr Reddy's 15 min chart which calls out for a bearish trend.
We might see the stock at 2500-2450 levels in the coming days.
USDJPY-Weekly Market Analysis-Jun19,Wk4A counter-trend trading opportunity, waiting for the candle to touch the right shoulder.
LTC broken necklineEveryone's watching this and LTC does appear to be leading the pack. Going half position on this break and adding on daily close but looks like the neckline is broken. The only real requirement for a H&S bottom, according to the guy who wrote the book on it (Edwards) is a high volume breakout of neckline to confirm the pattern. This differs from the volume requirements of an H&S top. Target around 50-51.
Don't be bulltarded; these patterns can often fail and if you subscribe to the narrative or manipulation and pattern painting (I don't) this is a perfect time for big whales to dump their bags so tread lightly.
