quecee5,
I had a couple Q's for you. if you don't mind. First on this chart, is this ( I believe it is called) a pendant? and what is the meaning of it if it is? Second Q, could there be an effect on this pair due to E/U falling below its neckline of a H&S on the chart? I would post a chart, but don't want to deviate away from what this thread is about. Looking @ your chart, I see that we may play out this triangle or pendant for a little while longer before going up or down in a major move. I think @ some point soon gbp will fall back to support @ 226.90 most likely to pick up more buyers, trying to reach the 50.0% fib of the larger fall.
Thank you in advance
I had a couple Q's for you. if you don't mind. First on this chart, is this ( I believe it is called) a pendant? and what is the meaning of it if it is? Second Q, could there be an effect on this pair due to E/U falling below its neckline of a H&S on the chart? I would post a chart, but don't want to deviate away from what this thread is about. Looking @ your chart, I see that we may play out this triangle or pendant for a little while longer before going up or down in a major move. I think @ some point soon gbp will fall back to support @ 226.90 most likely to pick up more buyers, trying to reach the 50.0% fib of the larger fall.
Thank you in advance