How High Can BITCOIN go versus GOLD (sorry uncle Peter Schiff)
One of the frequent topics of discussion revolves around the legitimacy of this pattern. There’s a widespread misunderstanding about the continuation type of the Head and Shoulders (H&S) pattern.
Indeed, it is a valid and dependable chart pattern.
Let’s explore this often-recognized chart pattern in more detail.
The Head and Shoulders chart pattern can manifest as a continuation on price charts. In an uptrend, a continuation H&S will closely resemble a H&S bottom, while in a downtrend, it will look like an inverse H&S. The implications and interpretations of a continuation H&S are generally consistent with those of reversal patterns. Price targets can be established in the same manner as they are for reversal patterns.
When a head and shoulders continuation forms during an uptrend, it typically breaks out to new highs once the pattern is completed. Breakouts to all-time highs from bullish continuation patterns are often reliable and robust.
Edwards and Magee highlighted the H&S continuation in their book, "Technical Analysis of Stock Trends," back in the 1930s. The pattern remains largely unchanged in today’s price charts.
Indeed, it is a valid and dependable chart pattern.
Let’s explore this often-recognized chart pattern in more detail.
The Head and Shoulders chart pattern can manifest as a continuation on price charts. In an uptrend, a continuation H&S will closely resemble a H&S bottom, while in a downtrend, it will look like an inverse H&S. The implications and interpretations of a continuation H&S are generally consistent with those of reversal patterns. Price targets can be established in the same manner as they are for reversal patterns.
When a head and shoulders continuation forms during an uptrend, it typically breaks out to new highs once the pattern is completed. Breakouts to all-time highs from bullish continuation patterns are often reliable and robust.
Edwards and Magee highlighted the H&S continuation in their book, "Technical Analysis of Stock Trends," back in the 1930s. The pattern remains largely unchanged in today’s price charts.
Pesanan dibatalkan
the monthly chart is sending us a warning for #BTC v #GOLD
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.