After seeing a nice fakeout on the daily of the inverted cup and handle pattern we are now seeing the 4hr chart form both a higher high and at least for now what appears like it will be a follow up higher low...if so the odds are favorable of following that up with another higher high and in doing so very likely we could trigger this currently developing inverted head and shoulder pattern. Though the 4hr chart is looking bullish we must still keep in mind that on the 1 day chart we have a giant bear flag and an inverted c up and handle to tend with...one of these 2 paths will be chosen either the bullish 4hr chart scenario will p;ay out or the bearish 1 day chart scenario. So be ready for either this idea for these reasons will be listed as neutral.
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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.