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Confirmed Inverted H/S pattern

  • Jan 9
    There is now a change of market sentiment after strong sell rally
    with a text book perfect Inverted head and shoulder pattern formation as
    viewed on the daily chart and confirmed the pattern as we see market
    participants rally past up the angling neckline and a retest.To get more
    news about WikiFX, you can visit wikifx official website.




      The upward momentum did not find quite a resistance as sellers
    offered little or no push back as buyers easily breached past the 0.925
    price level handle which could have offered to some sellers ceiling
    level block to place their sell limit orders.




      Market participants could playing the long shot as they probably
    targeting 0.94 price handle level as the main target high and 0.935
    price handle level as minor target high.




      Do look for a retest of the August trading month highs as potential
    limit order block area.Jasper Njuguna is a self-taught discretionary
    financial markets trader. With cumulative 5 years experience trading the
    markets and out of which, one and a half years of that as a prop
    trader, trading large and mid-cap American equities at one of the DAY
    TRADE THE WORLD offices.




      Prior to switching career interest to trading, I have 9 years of
    experience in senior management roles driving small to large business
    development and B2B relations in creating and implementing; learning
    & development solutions, programs, organizational stra