This chart illustrates a potential inverse head and shoulders pattern forming on a low time frame, signaling a possible short-term bullish reversal. The pattern is clearly marked with a Left Shoulder, Head, and Right Shoulder, suggesting a setup as shown.
The neckline area is labeled as a possible retest zone, where price may briefly revisit before either confirming the reversal or continuing the downtrend. A clean breakout and hold above this neckline would validate the pattern, with a projected upside target around 116K, as noted on the chart.
Risk management is visualized with a favorable risk-to-reward setup. However, a breakdown below the head would invalidate the pattern and imply further downside to the 110K 109K area.
This setup is ideal for traders watching for a short-term reversal, provided there is volume confirmation and alignment with broader market structure.
The neckline area is labeled as a possible retest zone, where price may briefly revisit before either confirming the reversal or continuing the downtrend. A clean breakout and hold above this neckline would validate the pattern, with a projected upside target around 116K, as noted on the chart.
Risk management is visualized with a favorable risk-to-reward setup. However, a breakdown below the head would invalidate the pattern and imply further downside to the 110K 109K area.
This setup is ideal for traders watching for a short-term reversal, provided there is volume confirmation and alignment with broader market structure.
Note
it didn't hit the entry. but rejects around TP area. looking for confirmation on upcoming move
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Disclaimer
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.