Loading ...JAPANESE YEN
Since we are talking Yen This evening…here is Rambus’ Perspective
IF This is a halfway pattern…there is a LONG WAY to go still ( Down ) which as we have learned from pedro and Plunger would mean a Massive Stock Rally
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“This quarterly history chart for the yen shows two massive topping patterns, the double top / H&S top. Here again you can see how that potential blue falling wedge could very well show up as a halfway pattern to the downside if the bottom trendline breaks.”
Makes sense to me. What a chart!
Indeed
Japan should free itself of its overlord, and start playing nice with its neighbours. If they are lucky, their future will look like their distant past. If not, well, it will look like their recent past.
Any tenters have feel for this dynamic? Can China and Japan co-exist?
Why Not ?
Russia and China were adversaries util recently
When are falling wedges bearish and when are they bullish?
How can you tell in advance?
Triangles in EW are the next to last move in a larger structure, so it says the current decline should be seen as a BULLISH wedge.
And my own system supports that take.
As for China vs Japan, there were atrocities in China from Japanese occupation in the 1930s that will not be forgotten. Ever.
https://en.wikipedia.org/wiki/Nanjing_Massacre
In Chartology Any pattern is Bullish OR Bearish and you can’t tell in advance which way they will break BUT !
Rambus has repeatedly shown that MOST Patterns are Continuation Patterns ie they break in the direction they are moving . I suppose the parallel in physics is newton’s law of momentum. It takes an opposing energy to stop it
It’s somewhere between 60 and 80% likely a pattern will be a continuation vs a pattern will be a reversal
Also note in this case that is one BIG ASSED Head and Shoulders . These Long Term Patterns with high probability get fulfilled . The longer the time frame the more likely the Pattern fulfils
Rambus record when spotting these long term patterns is very very good !!