4 hour chart has formed a left shoulder ad head of a small head and shoulders pattern...if that breaks down it may trigger the rising wedge breakdown as well...been going sideways for a few days now...the larger inverted head and shoulder pattern is still in play as well though...so this idea will remain neutral.
Note
we have yet to see the 4 hr 50ma be tested for quite some time. It has a fairly aggressive upward trajectory currently to so it would not be surprising if the price action bounces up off of that 50 ma. However if it flips the 50ma from support to consistent resistance, odds are good that we will trigger this head and shoulder pattern.
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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.