For sake of conversation, any thoughts on the potential reverse Head & Shoulders pattern on the 4H chart right now? It's not exactly a classic-looking H&S, but, hey, we need something to talk about.
The right shoulder, if it proves to be a true H&S, retraced to almost exactly 76.4% of the head, classic yen behavior (the currency, not me). The pair dropped around 1400 pips from the high in early August to the low recently, so maybe it's due some retracement. Even a middling retracement would be a lot more action than we've seen recently.
Time will tell . . . Stay tuned.
The right shoulder, if it proves to be a true H&S, retraced to almost exactly 76.4% of the head, classic yen behavior (the currency, not me). The pair dropped around 1400 pips from the high in early August to the low recently, so maybe it's due some retracement. Even a middling retracement would be a lot more action than we've seen recently.
Time will tell . . . Stay tuned.
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