Updating my post from last Friday about the exceedingly rare but potent “Three Peaks and the Domed House” topping pattern in the U.S. Dollar/Japanese Yen currency cross, and all of its implications as far as Japanese equities are concerned, you can see a variation of the pattern forming below.
To be clear, the pattern has a ton of work to do in order to confirm. But there is no doubt the Dollar has screamed against the Yen since last fall, and thus these types of patterns should not be dismissed out of hand.
Furthermore, when the pattern hits, it hits big. Recall this post explaining the pattern in detail, which helped us avoid a waterfall in DECK from $51 down to $28 in 2012.
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^ great call..,Gorilla Balls -You’ll Need Them..9 odd days ago via Kong!