Just formed a higher low; higher high + inverted h&s in play.

Just formed a higher low on the 4hr chart. If we can follow it up with a higher high we will also likely trigger an inverted head and shoulder pattern. Would be a good sign for the bulls.

Comment:

because we are still in sideways consolidation mode from the potential higher low, if we drop lower on this current candle, the higher low we have potentially formed will be invalidated....if the higher low is invalidated then odds are good we will see a lower low, which would at that point invalidate the potential head and shoulders as well.

Comment:

I jumped the gun in declaring the higher low before realizing the 2 green candles after it were were just part of a bear flag.

Comment:

We are still inside the inverted head and shoulders: s3.amazonaws.com/tra...shots/9/9sVivhAo.png

Comment:

if we were tot rigger the inverted head and shoulders it could send us to around 7200-7250 which is right where the inverted cup and handles neckline is. I would think if we met the neckline and saw it act as resistance that would be a smart place to exit with a stop loss to buy back in a few pips above the neckline.