i'm waiting for Inverse H&SH Formation on the level 1.1975-1.1950 with
Upside move - TP-1 to-day's HIGH , TP-2 - to-day HIGH +2338%
if PA break 1.1930 it'll be another scenario....
Ignored
Yup, I'd agree with that analysis. Price is currently sitting on the 200ema on the 15M, deciding where to go.. but i also think a move south might be in order...
I'm expecting price to retrace to one of the lvls drawn on the picture (common fib ratios) and go on further up according to the scenario I've previously posted.
However, if price for any reason will break the lower TL I'll be considering the move to the downside. Its also possible that we won't have that big of a pullback, then I'll wait for price to reach the 1.2100 area and look for shorts there.
I agree with Snu, I think we'll see some good trading opportunities. Charts are looking nice and clean. I still favour the upside. There are lots of little 'attractions' for price to visit - R2 at 1.2137, 62ema on 4H at 1.2125, and a nice level of resistance at around 1.2150, also a half/round number. All to play for! I'd like to see a meaningful retracement first, though, before taking any longs.
Point B moved a bit higher, I'm still anticipating the retracement. Possible lvls are shown on the picture.
I also use different semafor values. the "sun" on the picture hase value of 170 in the indicator parameters, which tells me that we're approaching a strong extremum. This + the local divergence tells me that most likely the point 1.2062 is the correct point B. Now we're waiting for point C to form.
Here is H&S model.
Can we consider this as right shoulder?
Anyway, gonna wait for 50th EMA breakout and re-testing to entry.
Early entry is also possible.
