Everyone's watching this and LTC does appear to be leading the pack. Going half position on this break and adding on daily close but looks like the neckline is broken. The only real requirement for a H&S bottom, according to the guy who wrote the book on it (Edwards) is a high volume breakout of neckline to confirm the pattern. This differs from the volume requirements of an H&S top. Target around 50-51.
Don't be bulltarded; these patterns can often fail and if you subscribe to the narrative or manipulation and pattern painting (I don't) this is a perfect time for big whales to dump their bags so tread lightly.
Don't be bulltarded; these patterns can often fail and if you subscribe to the narrative or manipulation and pattern painting (I don't) this is a perfect time for big whales to dump their bags so tread lightly.
Note
also great daily buy signal with macd and signal crossing up with rising histogram.Note
a fall below the shoulders (around 28) invalidates the patternNote
Even though the potential for this to be a bottom pattern isn't invalidated yet, I feel like it's going significantly lower.
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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.