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Neckline

IDXX inverted head and shouldersIDXX has just broken up out of a nine week pullback. Price struggled to break above the $150 half-figure zone during that time. Prior to this there was a very deep pullback (September/October 2014) which broke below the weekly 50ma for several weeks. However, price is currently in an uptrend, despite the recent pullback - which, in fact, formed an inverted head and shoulders pattern suggesting a continuation to the upside. This was confirmed on yesterdays breakout bar - which also broke above the recent pivot high. Volume was up on the bullish bar, too, which all points to a continuation of the uptrend. Overall, volume is on the low side (which could affect liquidity) but otherwise a good long opportunity.
NASDAQ:IDXXLong
by iAnneTrader
1
ERUSEK a short from neckline retestFrom larger timeframe I can take a strong bearish week below 3 months low. I am now looking at a neckline retest and there is a channel of sorts with macd divergence from the recent peaks. Price remains below the f6 from the downflow that I have identified. My bias is wrong if it should day CLOSE strongly below the green lines. Spikes are not considered SL for me. TP i can look to aim at recent low and have the other portion extended to below.
Short
by nakedchartist
4
Possible H&S: another opportunity to short USDCAD As stated in a previous idea () this pair has already been rejected on major daily structure. Now is setting up a possible head and shoulder pattern on lower timeframe (4h). Many pin bars formed on Friday showing price rejection below left shoulder level of the formation. Action: On Monday look for price to not gap nor open above pin bar's tails and sell at market. Target 1 at neckline, next profit taking zones on relevant structures looking left
Short
by simontien
Are we in a double bottom formation?EURUSD is a very mechanical pair, reacting to macroeconomic situation and sharp on political statement. Baring in mind the situation of indicators and the picture, we may be on the eve of a formation of a double bottom. Political situation in Europe, recent statements of ECB President Draghi , statements that had an effect on the market but on a long run, no one knows yet how his word would be transformed into actions. On the other hand, FED President is still applying the tappering policy, but leave a room to delay the end of it. Interest rate will not be increased immediately by FED, nor by ECB despite the inflation rate of 0.8%. Therefore, there may be a quick move upward before ECB and others react. Draghi stipulated that Europe need competitiveness and you can't be competive with a strong EUR. Markets should fall down a little bit and Yellen may need to make a statement to reassure that the QE may continue if needed. So many element in favor of this idea which is a first move again toward. 1.40 and above. And then an genuine intervention of ECB as well as a description of ECB's possible QE which by the way may be ABS(Asset Backed Securities).... And then EUR may be down progressively from 1.40 to 1.31 and below.... It is just an idea, a possible scenario we may keep in mind...
by Pashabxl