Price has reached and triggered the AB=CD pattern. The PA at D-level was more in line with the normal which suggest a minmum target at 1,5010 level which coincide with the yet un retested horizontal neckline of the large Head & Shoulders pattern. The Monthly PP stands slightly higher than this target at around 1,5045. Thus, even if it is not welcomed by bears trading the H & S pattern, it would still be quite normal PA if price reach 1,5125. Only IF price breaches this level and move higher (above Monthly PP) the whole setup comes into question. Scalping on the long side, with the AB-CD pattern is the preferred strategy right now. The minimum target of the whole ABCD stands at 1,5125 level, which would still beacceptable for the H & S if it is strongly rejected and price returns right back. A breaching of 1,4685 level will move the D-point downward to the 127 or 161 extension (not marked in this chart). Also, the D-point was reached with distinct bullish divergence on MACD, which also adds to the upward potential.
Kommentarer
CapMoore
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D-level 1,4685 is under intense pressure, The 127extended D point is at 1,4460
leckowo
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how can I switch it off?
CapMoore
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Since you follow 0 people you shouldn't see anything I assume.