DAX possible Head & Shoulders pattern

Hey there Folks,
Happy Friday!

A quick little post to bring to attention the formation of a potential H&S pattern on the DAX, weekly chart as per below.

You’ll remember we covered the H&S pattern here.

What I like about this, is that it’s on the longer time frame, and should it complete, we can expect to see a test of support at around 10800. Another thing i like about this particular chart is the downward sloping neckline (from left to right). A break of this red line would validate the pattern and offer a potential entry.

Stay tuned traders & enjoy the weekend.

Cheers.

 

Source: Vantage FX Blog