USDCHF Big overview
I’ve marked the SHS (Head and shoulders) pattern on this USDCHF chart. In this case, SHS has potentially big bullish power because:
1] It appeared around 2019 Low. From this view, all SHS lows could be interpreted as the attempt to breakdown the lowest level of 2019. But all these attempts are turned into fails because as soon as price penetrated 0.9662 level – … it has quickly recovered up without any chances foe bears to settle lower.
2] Panic Wave
3] Selling Pressure goes down after a Panic wave
4] The right shoulder represents the Final Trap – Quick High-volume column aimed to knock out bulls and attract bears in Fake Breakdown. This is a typical ending for the Accumulation Stage.
5] Demand Surge. The official change in market behavior.
More pieces of evidence could be found on the Crowd Behavior indicator.
6] Extreme levels for Ratios indicator
7] T Activity increased at the bottom
Blue Down-Lines now are broken out. Pink lines have priority, the path of least resistance is pointing upward.
8] Here is the level to start the pullback
Home
Yes, You Can Become a Professional Chart Reader
To build success in any business, you should rely on things that really work.
In Chart Reading Method, they are three: The Law of Inequality, The Law of Supply & Demand, The Law of Effort & Result.
Download free books, to understand how can you apply the Laws and convert charts into profitable setups daily!
Enter your email to Download books
Start building your success with Chart Reading method. Let’s not go back to what wasn’t working anyway.
No spam is guaranteed.