IAmSatoshi
Short

H+S on the daily

HUOBI:BTCCNY   Bitcoin / Chinese Yuan
Although weekly shows a possible inverted H+S             forming, the Daily appears to show pretty clear H+S             .

Edit: This is not a reversal pattern as that occurs with an H+S             develops in a bullish trend , this occurred in a bear trend. Thanks for the reminder @MoonTrader.
I keep telling people H&S don't work like that. In order to be a valid bearish h&s, the trend before that has to be bullish. You can't put a bearish h&s right after a bear trend. H&s is a reversal pattern, not a continuation pattern.
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IAmSatoshi MoonTrader
I agree with you 100%, nevertheless the pattern is there. Not saying to trade based upon this, but you cannot deny the patterns existence.
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MoonTrader IAmSatoshi
It doesn't mean anything. It's useless.
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Qiuness MoonTrader
Moon Trader, how is it looking now? :)) Great job Satoshi!
+1 Reply
MoonTrader Qiuness
Still doesn't mean anything. It's just a coincidence.
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