Simple's Green Room

[Qui-Gon Kagi]

Morning pennies. I can't post a chart but I spent a few minutes putting trend lines on the daily chart and looking at U/C on a zoomed out scale and I couldn't help but notice what looks like a H*S pattern with July 25 of last year giving us the top Head price at .997 or so, and the left shoulder back in the beginning of January last year 2012 in the .960 price area and the following right shoulder being formed more recently the third week in May of this year 2013 win price peaked at .9835 or close to it. Since then the price has dropped to form a new trendline which we hit for the 3rd time last night off of wave lows on the daily chart as I stated....there's also another trendline on a descending channel using the "head" and "right shoulder" as points on the top trendline and then the bottom trendline has hit three times times now with that trendline being another 100 odd pips below current price. Now I'll get to the point......if we are in a H&S pattern on the daily, then we have new lows to look forward to after hitting a couple of trend lines that I can draw off current daily wave bottoms. Now I realize that we seem to be in an inverse H&S pattern, but if we break below .917, then I'm going to look at exiting and reentering at the next logical supporting trendline on the daily. I should serve coffeee and finger cookies to go with all this heavy reading I've presented.