I got this idea from a chart image Lowstrife posted in chat a little earlier today that highlighted how similar this current H&S reversal is in structure to the one that played out in May 2014. I took a closer look myself by plotting the neckline on the current one that just completed on my chart in wisdom & was amazed to see how it almost perfectly lined up with the one in May 2013. I've tried to reproduce it here, but because of the way TV leaves out days that the API feed is down & stamp doesn't, my result isn't quite the same, but you can get the general idea of what I'm trying to display. So not just a similar structure, but also nearly the same neckline.
As many of you would know the May 2014 pump that resulted from the confirmation of that H&S reversal was a thing of beauty, lasting 2 weeks, & retracing to the 1.618 fib from the bounce off the April 10th bottom. A similar move this time round would see a price of around $407. And considering the water that's passed under the bridge over the last year, & the depths price discovery has plumbed, could be a nice move onto bigger & brighter things to come.
As many of you would know the May 2014 pump that resulted from the confirmation of that H&S reversal was a thing of beauty, lasting 2 weeks, & retracing to the 1.618 fib from the bounce off the April 10th bottom. A similar move this time round would see a price of around $407. And considering the water that's passed under the bridge over the last year, & the depths price discovery has plumbed, could be a nice move onto bigger & brighter things to come.