Quote:
Originally Posted by 4xStar
Starting with the candle 8 candles ago, I am looking on Accu charts and they do not give you the time when you hold mouse on candle .. or i can't figure out how to do it yet so cannot give exact time. It is a a brief one, but it is there. Also most jpy pairs are setting up with inverse h&s on various timeframes, mostly 1 hour.
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I see - 8 hours ago would be considered the head, and the cluster around 213 from early 07/17 and the last few hours could be considered shoulders. There are some difficulties with that interpretation, though: namely that the apparent bullish reversal formation is occurring at a swing high, rather than a swing low as with the 07/15-07/17 formation. Without a downtrend to reverse, the likelihood of an inverse H&S forming is thin.
Similarly, though, there may be a double top forming on the 1H, especially on the Guppy and USD/JPY. The 1200 candle will tell.