NQ1! Is a Head being formed?
Technical analysis is hardly objective, every trader sees his/her brain imagination result. We can't see the future, period!
I often entertain different ideas for a mental gymnastic only. Full disclosure, as a day trader, I don't really care where the market would go. I tag along with a short term sentiment.
Anyway, while looking at this daily chart and relentless upside move for the first half of 2023, I can't help but entertain an idea of a head formation of a potential H&S. Every trend ends up with a consolidation which is a head of a potential H&S or inverse H&S. A breach of the outlined area to upside would invalidate that idea. A breach of R1 would confirm it.
07/03/23
I often entertain different ideas for a mental gymnastic only. Full disclosure, as a day trader, I don't really care where the market would go. I tag along with a short term sentiment.
Anyway, while looking at this daily chart and relentless upside move for the first half of 2023, I can't help but entertain an idea of a head formation of a potential H&S. Every trend ends up with a consolidation which is a head of a potential H&S or inverse H&S. A breach of the outlined area to upside would invalidate that idea. A breach of R1 would confirm it.
07/03/23
Penafian
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