The eminis are up 5 pts overnight, but so far have produced only a completed Bat Pattern rather than a new high.
And, USDJPY continues to stave off multiple H&S Patterns…
…with the bounce on its latest neckline Monday setting up a fractal of the Jul 5-18 Gartley Pattern.
H&S Patterns aren’t always that reliable in currency trading, but it’s interesting that the target of the latest pattern (in the right shoulder of a much larger pattern) is the yellow channel midline back around 96 — which would spell the end of the rising white channel and complete the much larger pattern that targets the white 1.618 at 85.66.
I’ll hold short unless we get a push through 1700.
UPDATE: 9:32 AM
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