potential invH&s in play if we make it to 10k & get rejected

29 Apr 2020

We are currently testing the weekly 50ma as resistance here...if we can overcome it the next resistance will be 10k if we see a solid rejection at 10k we will then start forming the right should of an INV H&s shoulder pattern that could have a breakout target of 17k so keep a close eye on this pattern as it develops./..of course these patterns are never guaranteed until the confirm the final breakout above the neckline so if i does reject at 10k there will still likely be some time involved before we have a chance of validating this potential pattern. I will be closing some longs at 10 k but if we cant get above the weekly 50 ma I will start laddering them out here.

29 Apr 2020

Nota

Apologies when I said 10 k I meant 10.5k I hope people realize that just by looking at my trendlines on the chart

2 Jun 2020

Nota

if you hit play you can see we have just now hit the neckline and we are currently seeing a rejection from it slightly.