Well, we have many confluences here for support, but also for the target of this ascending inverted head and shoulder pattern.
If we get out of the descending wedge we are in, it make sense that we could get to the top of the channel, and then the target of that H&S coincides pretty exactly with the 1.618 Fibonacci extension level. We need a much higher bullish momentum that what we see right now though...
It is also a confluence with possible target of the related idea below, close to the 0.886 and the median line of the pitchfork.
Dream?
If we get out of the descending wedge we are in, it make sense that we could get to the top of the channel, and then the target of that H&S coincides pretty exactly with the 1.618 Fibonacci extension level. We need a much higher bullish momentum that what we see right now though...
It is also a confluence with possible target of the related idea below, close to the 0.886 and the median line of the pitchfork.
Dream?
Trade closed: stop reached
Did not play out
Related publications
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.
Related publications
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.