ENJBTC - All Lined Up for Inverse H&S Breakout

8 Apr 2018

Textbook Inverse H&S? All we need is some volume. Is that going to come tomorrow when the new exchange is announced? Or is everyone going to sell the news?

Popcorn in hand, lets double up.

8 Apr 2018

Nota

Pop

8 Apr 2018

Nota

9 Apr 2018

Nota

One last trend line of resistance. Surprisingly strong.

9 Apr 2018

Nota

Simple explanation for the resistance seen earlier this evening that effectively stalled the breakout. There is another similar inverse h&s pattern, and the black line seen in my previous comment is the neckline of that pattern. Necklines are resistance, and the pattern is only complete once a breakout is made. If this neckline is broken tomorrow following the new exchange, I believe we see a very, very nice run to 2200+.

Here are two snapshots of the different inverse head and shoulder patterns.