This idea is largely inspired by shkspr who predicted the head and shoulders pattern well before it manifested.
The large upwards trade channel is what I have been using to base most my trades off.
A classic head and shoulders pattern, when it fully realizes, can drop by as much as the pink arrows indicate. I consider the top part of the Head to be an abnormality and therefore have kept the height of the Head within the upwards channel. In a textbook scenario, this would mean that we might get close to $2-$2.50 again. This range also aligns with the lower upwards trend which the second pink arrow touches.
Good news might cause a reversal or even price spike.
The large upwards trade channel is what I have been using to base most my trades off.
A classic head and shoulders pattern, when it fully realizes, can drop by as much as the pink arrows indicate. I consider the top part of the Head to be an abnormality and therefore have kept the height of the Head within the upwards channel. In a textbook scenario, this would mean that we might get close to $2-$2.50 again. This range also aligns with the lower upwards trend which the second pink arrow touches.
Good news might cause a reversal or even price spike.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.