Just spotted this formation on stamp. This is the inverted version of a normal . The inverted is typically seen in downtrends. The inverted left shoulder should be accompanied by an increase in . This is what we saw around the 18th of august. The inverted head should be made on lighter . The rally from the head, should show greater than the rally from the left shoulder. Ultimately, the inverted right shoulder should register the lightest of all. This is what we're seeing now. If the market rallies through the neckline, a big increase in should be seen.
Our target is calculated just like the pattern.
Measure the distance between the head and the neckline, and that is approximately the distance that the price will move after it breaks the neckline.
533-453 = 80USD, 538+80 = 623USD
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