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Wednesday, March 16, 2016 7:53:49 PM
AU Monthly Chart
Ok Heavy, now that you've seen how the validated TDI IHS and H&S patterns work, let's take a look at that monthly chart again.
We have each of the components of the TDI IHS pattern in place and now a breakout of the neckline. We have 3 lower lows in price at each of the component peaks.
But, we haven't gotten a retest of the neckline yet. That retest is going to drive price back down hard and either form one more new low or a double bottom at the extreme low.
That key candle level of 0.7728 is still a possibility though after this next drop occurs.
Ok Heavy, now that you've seen how the validated TDI IHS and H&S patterns work, let's take a look at that monthly chart again.
We have each of the components of the TDI IHS pattern in place and now a breakout of the neckline. We have 3 lower lows in price at each of the component peaks.
But, we haven't gotten a retest of the neckline yet. That retest is going to drive price back down hard and either form one more new low or a double bottom at the extreme low.
That key candle level of 0.7728 is still a possibility though after this next drop occurs.
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