This might be the move I had been anticipating. This would be great if it played
out this way. For now this is still only a premise and we need to see a strong sell off
here to take it to new recent lows. A new low would support this hypothesis.
The pennant idea I had about the USDJPY did not play out which is a good thing
because the majority of the times a contracting pennant is a continuation pattern
and therefore we would have new highs in USDJPY. If we saw head and shoulders
in most asset classes in December (check my charts out as I called them correctly(
as bearish selloffs then it would make sense that we would see both bottoming
head and shoulders and in flight to safety assets we would see them as topping patterns.
out this way. For now this is still only a premise and we need to see a strong sell off
here to take it to new recent lows. A new low would support this hypothesis.
The pennant idea I had about the USDJPY did not play out which is a good thing
because the majority of the times a contracting pennant is a continuation pattern
and therefore we would have new highs in USDJPY. If we saw head and shoulders
in most asset classes in December (check my charts out as I called them correctly(
as bearish selloffs then it would make sense that we would see both bottoming
head and shoulders and in flight to safety assets we would see them as topping patterns.
Commento:
This is of course null and void. It was a pennant of sorts. This suggests continuation of the larger trend which is up.
