A few weeks ago there was a potential inverse H&S in the making, but after it broke the neckline (twice even) it eventually failed. This does not mean the bottom formation is over though. Now we are at a support zone and from the looks of it, it seems it wants to turn up again. But i am not going long here, i am going to sit and wait to see how the coming days will play out first. If we see something like the blue line play out, i will probably take on a long at a certain point. I will try to keep you updated on this one.
Previous analysis:
Previous analysis:
Note
I am not going to cancel the trade completely yet. If we see a bounce up here for a potential double bottom, i might make a new analysis on this one. Because than the whole idea could still be intact. For now the trade is of course not active since we never got that real breakout and pullback
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.