EURUSD: 4h Forming Head and Shoulder

25 thg 12, 2015

The right shoulder is not complete yet but I expect it to be a double top before it moves to 1.08234 which is a neckline area which coincide with the daily S2 support and Fibonacci extension of 1.414. On the way down to this support ,I expect a bounce at the 1.8077 - 1.8084 area before a short lived rally to the daily pivot of 1.0912 and after which I expect it to continue to a support of 1.08234. The market could also begin with a gap as the market had not reacted to the unemployment claims yet.

There is a harmonic pattern that is forming on the right shoulder as well but could not put it since the chart will be too messy.

25 thg 12, 2015

Ghi chú

The 1.8077 - 1.8084 area, I meant is 1.0877 - 1.0884, I keep on putting these zeros in the wrong places. If keep on repeating these mistakes I will only mention prices on the chart itself.

4 thg 1, 2016

Đóng lệnh: đạt mục tiêu

The target of 1.0823 was reached and it would be a good idea to start looking for long opportunities as the rest of the year is forecasted to be long as stated in my other EURUSD 2016 - 2017 Long term Forecast idea