From a technical analysis perspective NASDAQ finished the week with both a completed Head & Shoulders Pattern at market on the 4 hour chart (left) and a Gravestone Doji candlestick on the weekly chart (right).
From a technical analysis point of view NASDAQ finished the week with a completed Head & Shoulders Pattern (at Market) on the 4 hour chart (chart on left) and a Gravestone Doji candlestick on the weekly chart (chart on right).
Completed Head & Shoulders Pattern GBPUSD 120. Price has broken and closed below both the neckline and the trend line and has pulled back into structure making this pattern a valid short at market.
Price has put in another higher high as well as breaking and closing above a key structure level that has been respected multiple times. Once we see a pull back into this kill zone I'll be waiting patiently for an entry reason and looking for another move higher.
USDCHF
Technical Reasoning: Double Top Pattern
Conformation: Wait for price to break and close below the neckline and then place a sell limit order at retest of the neckline
Risk/ Reward: SL above highest top of pattern, green arrows on chart indicate where targets would be placed. Never risk more than 2% of total trading capital on a single trade.
USDJPY
Technical Reasoning: Double Top Pattern
Conformation: Price has broken and closed below the neckline of the pattern. Place sell limit order at retest of Neckline (113.422)
Risk/ Reward: SL & Targets illustrated on chart
EURCAD
Technical Reasoning: Harmonic Advanced Pattern (Cypher)
Conformation: Set Sell Limit Order at D Completion of Pattern at 1.5233
Risk/ Reward: SL & Targets illustrated on Chart
