Wednesday 20 May 2009

Head & Shoulders

Ok I know I said I would give the outcome of the yesterdays trade setups, but I think that will have to wait until tomorrow now. However, here is an interesting chart. It's the daily price of US dollar versus the Yen. A classic head and shoulders reversal pattern has formed. A break of the neckline would suggest that the medium term target will be down the the level marked on the chart.

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