I am confused why volume is pretty consistent throughout this pattern forming.
If it's truly an inverse head and shoulders we should see a decrease in volume after the head right?
As you can see, I've circled the areas of concern to me, and the volume is consistent on the right shoulder, head, and right neckline.
Could this be consolidation instead of reversal? I am looking to trade the convincing break but honestly I'm very hesitant.
Thanks in advance for your comments.
If it's truly an inverse head and shoulders we should see a decrease in volume after the head right?
As you can see, I've circled the areas of concern to me, and the volume is consistent on the right shoulder, head, and right neckline.
Could this be consolidation instead of reversal? I am looking to trade the convincing break but honestly I'm very hesitant.
Thanks in advance for your comments.
Comment:
Inverse head and shoulders invalidated if we fall below the green channel, but interested to see where this will take us. Either way, end result is a bullish break in either patterns.
Some other key points to my argument that this is a falling broadening wedge besides volume.