Monthly Pivot, S1, 61.8 Fib and trendline support working good to hold GU so far
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Dislikedeasier money is on short since LO. Current support is still being tested & there is no confirmation to buy safely yet. If this support fails, price will most likely test 5514
Good luck.
earlier chart & updated below.Ignored
DislikedMonthly Pivot, S1, 61.8 Fib and trendline support working good to hold GU so farIgnored
Dislikedwelp, closed out short for profit as the primary support held.
Looking for a close above 80 for a reversed long.
Good luck.Ignored
DislikedHi,
Hope everyone is doing well.
The darn thing missed my sell entry by a mere 4 pips before dropping a +100 pips.
Anyways, looking at the chart attached, would you consider that to a be a valid head and shoulders?
Thanks in advanceIgnored
Dislikedwelp, closed out short for profit as the primary support held.
Looking for a close above 80 for a reversed long.
Good luck.Ignored
DislikedS&P is absolutely blowing up... Definately some type of freaky shite going on! I don't care what it is, just as long as It keeps going until GU reaches my TP!Ignored
DislikedNeed-Help,
That's not the best looking H&S i've ever seen, but according to the book I read on TA "Using Technical Analysis" from McGraw-Hill, that one would count. Even matches an upward sloping neckline example on page 13.
The book's only requirement on the right shoulder is that price must break below the top of the left shoulder after forming the head.
Clearly enough traders thought it was and it traveled about the distance you'd expect H&S to go after breaking the neckline.Ignored