BUY ABOVE 13020
WITH STOP 12933
T1 - 13080
T2 - 13135
T3 - 13160
REASON - CUP AND HANDLE + INVERTED HEAD & SHOULDER PATTER HAVING COMMON NECKLINE
BASED ON NECKLINE BREAK CONCEPT ABOVE TRADE CAN BE INITIATED
ALSO LOOKING INTO
OPEN INTEREST ANALYSIS :-
MAX PAIN @ 13000
SUPPORT LEVELS - 12900 & 12800
RESISTANCE LEVELS - 13100 & 13200
RANGE BECOMES - 12800 TO...
Rounding pattern formation
Lead to a bullish rally
Later on breaking of neckline
All follow up candles touched neckline
Interesting note is last 3 day candles
Almost DOJI candles back to back
These makes it curious for a reversal and start of downtrend below neckline
Sale wud trigger around 104-103 with so 108
disclaimer join your study to take trade
Took support of bottom line of H&S and rose with good volumes.
Neckline breakout happened yesterday when price crosses above 49 rs levels with good buying pressure coming in.
Immediate targets would be 54-55... If crosses the zone 66-67 on the cards.
USDJPY has formed a classic inverted head and shoulder pattern on a daily basis. The prices are trading very close to the neckline and we might see a breakout soon. furthermore, the weekly chart has formed a bullish engulfing pattern as well that supports the bullish argument. Like always, the price can take two paths, the first one is highlighted by the blue...
GBPUSD is a good sell right now as there are a number of patterns that point towards the southward trajectory of the pair. The pair initially went above the broadening channel, but later on reverted back with a head and shoulder pattern (blue shaded area) which make bears on the winning side, with the target of testing the lower trend line of the channel at...
The price movement of the pair is forming an inverted head and shoulder pattern with the second shoulder in the midst of formation. We can enter a buy position from the current level with stop loss at the crest of the shoulder at 107.868 till the first target at 109.493 which is also the neckline. After the prices breach the neckline, TP 2 and Tp 3 will activate....