The possibility of an H&S with a bearish reversal, as I had previously proposed, will be invalidated if there is an upward crossing of the highest hypothetical left shoulder (approximately $ 8300)
Which is quite possible since the signal given by crossing the Bearish Trendline in red
(even if, on the dead cat bounces of 2018, I note that there was a pullback after this trendline, followed by a massive retracement, so be careful !)
By the way, within two days we will have reached for the hypothetical right shoulder + pullback a duration equivalent to the left shoulder: so without bearish retracement in two days, the H & S with bearish target will lose credibility! So, Bulls have a nice card to play this week to reverse the situation to their advantage, but will Bears let them do?
Which is quite possible since the signal given by crossing the Bearish Trendline in red
(even if, on the dead cat bounces of 2018, I note that there was a pullback after this trendline, followed by a massive retracement, so be careful !)
By the way, within two days we will have reached for the hypothetical right shoulder + pullback a duration equivalent to the left shoulder: so without bearish retracement in two days, the H & S with bearish target will lose credibility! So, Bulls have a nice card to play this week to reverse the situation to their advantage, but will Bears let them do?
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New pattern under study for an upcoming trade:
