In this chart, as you can see, we might be dealing with an inverse head and shoulders pattern. If confirmed, this pattern could lead to higher prices.
However, before taking any positions, it would be prudent to wait for a shift in the lower timeframe market structure toward a bullish trend to ensure stronger confirmation of the move.
However, before taking any positions, it would be prudent to wait for a shift in the lower timeframe market structure toward a bullish trend to ensure stronger confirmation of the move.
Order cancelled
Price failed to close above the right shoulder top. Therefore, this reverse head and shoulder pattern failed to complete. 
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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.