There is now a change of market sentiment after strong sell rally
with a text book perfect Inverted head and shoulder pattern formation as
viewed on the daily chart and confirmed the pattern as we see market
participants rally past up the angling neckline and a retest.To get more
news about
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The upward momentum did not find quite a resistance as sellers
offered little or no push back as buyers easily breached past the 0.925
price level handle which could have offered to some sellers ceiling
level block to place their sell limit orders.
Market participants could playing the long shot as they probably
targeting 0.94 price handle level as the main target high and 0.935
price handle level as minor target high.
Do look for a retest of the August trading month highs as potential limit order block area.
Jasper Njuguna is a self-taught discretionary financial markets
trader. With cumulative 5 years experience trading the markets and out
of which, one and a half years of that as a prop trader, trading large
and mid-cap American equities at one of the DAY TRADE THE WORLD offices.
Prior to switching career interest to trading, I have 9 years of
experience in senior management roles driving small to large business
development and B2B relations in creating and implementing; learning
& development solutions, programs, organizational strategies &
frameworks, and blended learning approaches for companies and
institutions in Africa.
