Posted by frtaylor on 14th of Apr 2012 at 09:18 pm
Here's a much wider look - weekly FXE, with a H&S already in
play. Red line shows measured move. Steve or Matt,
comments, critique? One problem, the two shoulders aren't
symmetrical in height or time. I'm no technician....
Here's a much wider look
Euro
Posted by frtaylor on 14th of Apr 2012 at 09:18 pm
Here's a much wider look - weekly FXE, with a H&S already in play. Red line shows measured move. Steve or Matt, comments, critique? One problem, the two shoulders aren't symmetrical in height or time. I'm no technician....
Eur/USD is notorious for disrespecting
Posted by steveo on 15th of Apr 2012 at 08:28 pm
Eur/USD is notorious for disrespecting head and shoulders.
Weekly FXE
Posted by pwb8 on 14th of Apr 2012 at 10:50 pm
If you're correct frtaylor, we could be in for a severe correction on the S&P as the dollar rockets upward.
I am no H&S technician either, so would like to hear from Matt or Steve on this.
Anything's possible, but a deep/sharp
Posted by frtaylor on 15th of Apr 2012 at 09:04 pm
Anything's possible, but a deep/sharp market correction does seem rather unlikely. Probably my read of the chart is incorrect.
sorry for posting two charts,
Posted by frtaylor on 14th of Apr 2012 at 09:26 pm
sorry for posting two charts, I wasn't able to delete my first attempt. Only difference is the 14,3,3 stochastics instead of 14,3,5.