Head and shoulders pattern
Diupdate
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.
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.
Catatan
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
Catatan
A very nice wedge has formed, and I think it could be a good trigger to an entry pointCatatan
broke the wedge and diving.. for now
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