Price broke the neckline of the head-and-shoulders pattern. The target is typically calculated as the hight of the head projected to the downside. Look how perfectly the head-and-shoulders pattern worked recently.
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as we broke the right shoulder the pattern becomes invalidated. An invelidated bear pattern is a strong confirmation of uside momentum. Look long on this asset.
@DukeDinhd6, It would probably be best to just worry about yourself, and not wish losses on others. It's pretty sad how common it is for grown men like you to be acting like teenagers by making such comments. Have a nice day.
Very accurate, still believe it can go both ways from 9.2K/9.4K:
Alexander_Nikitin
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@bitcoin, yep. it is decision level. priceaction will tell which direction it is going to:)
Broom
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Both bullish and Bear head and shoulders on this chart, move along, nothing to see here.
Alexander_Nikitin
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@Broom, What's the bull H&S target? wasn't is hit already? aren't buyers closing their positions taking profits?
Broom
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@Alexander_Nikitin, Probably the second "head"since looks like we just broke the neckline, or 9k. Lots of H&S in this chart, which is just a consolidation period which we have zoomed into the smaller TF's, lots of indecision. sry if I was a bit rude
Alexander_Nikitin
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@Broom, never mind. after the right shoulder was broken we now have a strong confirmaitn that upside bias is very powerfull.
toaby
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LOL are H&S the new trend of the year? Didnt seem to work out here bud