DislikedI have a technical question: If the right shoulder is higher than the left shoulder, does it still qualify as a head and shoulder pattern?Ignored
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- #590,042
- Jan 31, 2012 12:23am Jan 31, 2012 12:23am
- Joined Apr 2011 | Status: Liverpool's KOP | 8,033 Posts | Online Now
trying a short @ 3190...possible right shoulder here..
Patience, Emotion Control and Discipline.
- #590,044
- Jan 31, 2012 12:23am Jan 31, 2012 12:23am
I have a technical question: If the right shoulder is higher than the left shoulder, does it still qualify as a head and shoulder pattern?
), you got a head n shoulder. There still a chance that the support turn resistance would be tested before price go south.For current case, IMHO you got a H&S if price go south breaking 1.3075-80 support level with high volume on support break. The target would be around 1.296x
- #590,046
- Edited 12:54am Jan 31, 2012 12:34am | Edited 12:54am
- Joined Jan 2011 | Status: Ordinary Members | 10,684 Posts
trying a short @ 3190...possible right shoulder here..
after this headline bull little active , equity recover earlier lost , closely monitor frnkay opening .. and s&p
edit also news release @ top of the hour
Mohan
- #590,047
- Jan 31, 2012 12:35am Jan 31, 2012 12:35am
- Joined Sep 2010 | Status: Trader | 11,327 Posts
technical view :
Attachment
weekly still in downtrend, ( 3 Lower highs ) , unless we dont cross/close above 4830-4875 and 1.5000 level we r still in nice area to place some swing trades to the downside with stops above mentioned levels above.
Targets at least 1.35 and 1.29 area.
Might take a couple of months to get there of course.....wtf this is a weekly chart
On the daily develops a trend reversal bullish --> bearish , if a Lower Low gonna follow the Lower high next weeks, see chart.
Anyway (as always) the fundamental...
- #590,051
- Jan 31, 2012 12:54am Jan 31, 2012 12:54am
- | Joined Apr 2009 | Status: Me, Myself, and I | 494 Posts
Short on triple top support break @1.31820 [email protected] [email protected].
- #590,053
- Jan 31, 2012 12:59am Jan 31, 2012 12:59am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
- #590,054
- Jan 31, 2012 1:04am Jan 31, 2012 1:04am
- | Membership Revoked | Joined Jul 2011 | 3,291 Posts
Weekly: still in extended correction of bull run 1.16 to 1.60 on a down leg.
Daily: Trying to make a reversal has taken out daily high as far as 1.32 but has yet to make a higher low. and heavy resistence @ 1.32
H1: The run up from 1.2623 to 1.3232 is looking over-extended and due for a correction yesterday saw a possible wave A followed by possible wave B form. If this is the case I have initial targets of 1.304x then 1.293x which would take it to a 50% correction
I have 1.3145 and then 1.3110 to start of with. then comes 1.3090break of yesterdays low will test 1.3050 and then 1.3020.
on the upside 1.3220 and 1.3250 also possible.
I am short @1.3194
- #590,055
- Jan 31, 2012 1:04am Jan 31, 2012 1:04am
Still in the trade, it retrace back after hit some resistance. We'll see what where it goes next.
- #590,056
- Jan 31, 2012 1:06am Jan 31, 2012 1:06am
- | Commercial User | Joined Feb 2010 | 13,260 Posts
break of yesterdays low will test 1.3050 and then 1.3020.
on the upside 1.3220 and 1.3250 also possible.
I am short @1.3194
yep definately a couple of support to break through to get to target
- #590,057
- Jan 31, 2012 1:08am Jan 31, 2012 1:08am
- | Membership Revoked | Joined Jul 2011 | 3,291 Posts
- #590,060
- Jan 31, 2012 1:20am Jan 31, 2012 1:20am
- | Membership Revoked | Joined Jul 2011 | 3,291 Posts
yep definately a couple of support to break through to get to target
yes but if these european leaders keep on coming and making announcements like luxembourg FM made today i think downside will be restricted