Head and shoulders pattern

16 thg 1

1. As you can see - a very beautiful pattern with a clear neckline and solid resistance.
2. The descending weekly trend line is overhead, this further supports the possibility of a decline.
3. The rising weekly trend line is in the range that the size of the pattern can reach.
4. When DXY corrects down to its trend line (or so I believe) - this will give the pound an opportunity to test its daily trend lines - from below.

If the pattern is not broken, it can go down to its trend line, in full synchronization with the DXY
(Hopefully I'm not a prisoner of the concept I have about the DXY, because it works "according to the book")


* Since the pattern has not yet been confirmed, if DXY really changes direction - I intend to look long until the trend lines reset

** Always(!) - first of all look for the manipulation before the real movement.

22 thg 1

Ghi chú

for now - it is going exactly like the plan, and started to go down.
I'm not sure its the right time to short, it is still in a strong position.
looking for another way to conform entry

23 thg 1

Ghi chú

A very nice wedge has formed, and I think it could be a good trigger to an entry point

23 thg 1

Ghi chú

broke the wedge and diving.. for now