GiztechnewZ is. Powered by Blogger.

Picture-perfect head and shoulders pattern

Picture-perfect head and shoulders pattern Forex Trading Price Action

We at sincerely hope that you had a great Labor Day weekend unless, of course, you live in a country where it is celebrated at a different time of the year – like Australia, China, New Zealand, etc.!

Courtesy Christoph Lahrs, there is a picture-perfect head and shoulders pattern forming on the USD/CHF daily chart. Further, if you look closely, you will observe positive divergence on MACD histogram to price. And, if you look even more closely, price is above the 200 EMA on the 4 hour, 1 hour, 15 minute and 5 minute charts – at least as at 8:30 pm ET Monday, September 3/07.

The head of the H&S pattern is at the 200 EMA, but price is below the 200 EMA on the weekly chart – so, there is the possibility that price will advance from here. But, let’s not forget that the overall trend is down. Any trades to the long side from here are counter the big trend, and should be taken with extreme caution.

See latest sample AM Review at:

Not Found?

Related Posts Plugin for WordPress, Blogger...


Tech Blog

Site Engaged

Blog Directory Top Technology blogs TopOfBlogs blogarama - the blog directory Web Directory
OnToplist is optimized by SEO
Add blog to our directory.

Blog Dictonary


Vote for Us

My site was nominated for Best Geek Blog!

About This Blog

  © GiztechnewZ Is Designed by Yogesh Managaonkar ©2011 All Rights Reserved.

Back to TOP