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“Inverted H&S retest on Euro Yen

Weekly:
– Corrective Symmetrical triangle
– fifth sub wave left to finish on this impulse wave

Daily

– Wave four had a pleasing zero.five – 0.618 retracement & Bounced

– Going up for fifth wave

– Breakout shape descending channel , no retest but

– Red Doji

four Hour

– In this Major Wave three, it does now not glance whole. It has now not reached a 1.zero extension. Expecting upside to 133 minimal to finish wave three

– Confirmed Breakout from Slanted Head & Shoulders trend. Bullish however imaginable re-test?

– Breakout shape descending channel . Bullish

– At Major Resistance. Possible Bounce down

– Ascending wedge . It seems to be damaged out to the upside and in addition a small retest however this isn’t transparent… Not a showed breakout but

2 Hour

– Clear Bearish RSI Divergence

– Not breaking Through Major Resistance

Bullish hidden divergence? Previous retracement on value shaped the similar Lower Low on RSI

Trading Plan 1

– Short the Breakout of the ascending wedge

– Place access at 130.70,

– Place SL above swing High

– Targets: wave 1 Support & zero.five – zero.618 Fib

– 129.70 – 128.7

Reason to quick:

– Ascending Wedge

– Major Resistance

RSI Divergance

– five wave whole, correction anticipated

– Retest of Head & Shoulders Neckline

– Retest of descending channel breakout

Reasons to not quick

– Hidden Bullish divergence on 2H RSI

– Not oversold but on Daily RSI

R:R = zero.nine – 1.7

Plan B:

Wait till pullback on buying and selling plan 2

Trading Plan 2

– Enter Long on Retest to play the H&S trend on the 4H chart as much as the Weekly Trendline resistance and to finish the Major fifth wave… This is for later

Thanks for studying, any feedback are preferred

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