Possible Head & Shoulders Pattern Spotted on AUD/CAD
מעודכן
In this morning's KickStart PRO Morning Session, we found a great example of what could turn out to be a 'textbook' Head & Shoulders pattern.
The reason this is still just a potential Head & Shoulders, however, and not yet confirmed, is because, while we DO have the Left Shoulder (LS), the Head, and a clearly defined neckline, we do not yet have a definitely formed Right Shoulder (RS), though this is starting, nor do we have a break of the neckline, necessary for looking at this as a tradeable pattern.
We'll be watching this in the coming days to see how this forms.
The reason this is still just a potential Head & Shoulders, however, and not yet confirmed, is because, while we DO have the Left Shoulder (LS), the Head, and a clearly defined neckline, we do not yet have a definitely formed Right Shoulder (RS), though this is starting, nor do we have a break of the neckline, necessary for looking at this as a tradeable pattern.
We'll be watching this in the coming days to see how this forms.
הערה
As of 02 Oct 2020 @ 08:02 GMT, we have now broken the neckline on AUD/CAD, thereby firmly establishing our Right Shoulder (RS) and as these were the final two criteria, we now have a confirmed Head & Shoulders pattern. The market is now retesting, the broken neckline, so I am looking for entry opportunities to short toward 0.9475 providing resistance holds.
הערה
As of 5 Oct 2020, we appear to have made it about 60% of the way to the target, but then the market pulled back above the neckline, where it's been ever since. I am now awaiting a fresh break of the neckline to re-confirm, otherwise, I'll be looking to abandon this and chalk it up as a false H & S.. Will have to wait and see over the coming days.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.