This 3-Bart Head & Shoulders has been forming on a 15 minute chart. No way we get a topping formation
after a $4000 drop. I remember an Inverted Head and shoulder last week at $7600. It failed. Now we have
a much small one $1500 lower. WTF? This 15 minute pattern creates a bear flag on the 4 to 6 hour chart.
I'll post a 1 hour chart next, to show how this seemingly H & S on the 15 minute, may actually be creating
a bigger Inverted H & S on the 1 hour chart. If it completes, it measures up to the golden cup (.382 retrace)
at $7600. So far, we can't even get to the resistance at $6800, let alone the retestof the giant symmetrical
triangle up above at $7200.
after a $4000 drop. I remember an Inverted Head and shoulder last week at $7600. It failed. Now we have
a much small one $1500 lower. WTF? This 15 minute pattern creates a bear flag on the 4 to 6 hour chart.
I'll post a 1 hour chart next, to show how this seemingly H & S on the 15 minute, may actually be creating
a bigger Inverted H & S on the 1 hour chart. If it completes, it measures up to the golden cup (.382 retrace)
at $7600. So far, we can't even get to the resistance at $6800, let alone the retestof the giant symmetrical
triangle up above at $7200.