This is it - the big decider! Only one head & shoulders can win! Will it be the big inverse head & shoulders, setting up for a massive bullish move towards 14,000? Or will it be the new kid on the block - the little head & shoulders setting up for a downside move that threatens to extend the correction down below 9600?
A move upwards through the long dotted line would complete the bullish pattern. A downward move through the short dotted line would complete the bearish pattern.
I'd be interested to hear any views/opinions on which completion is more likely. Cheers!
I hope that big guy will win xD whose is hanging upside down
GlenGoodman
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@Andrew_Kay, my feeling is the big upside down guy is more likely to win....but hey, that's just my feeling and feelings don't usually make profitable trades ;-)
Harry_Seldon
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Hi Glen, I hate when people spam their own articles on other peoples'... but since you're asking :)
I am in favor of the bear move, so that it fits the cycles of the past. My article :
Of course, I'd be ok with being wrong and see it go bullish ! As long as we remain above the trendline started on 29th April, it's a very possible outcome.
Like your drawings by the way, a bit of humour is welcome :D
GlenGoodman
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@Harry_Seldon, Haha spam away, Harry, spam away. I'm okay with spamming on TradingView Ideas, because otherwise most people would only see the same few Top Posters' ideas over and over again, and a few of them (naming no names) are peddling absolute nonsense.
Your trendline running through the log chart is a pretty persuasive argument against the idea that we'll continue with parabolic growth and reach 50,000/100,000/infinity by the end of this year. But then again, we could go to 100,000 and crash again, while still not deviating too dramatically from your trendline, so there is quite a lot of leeway with that model.