This is an update on my previous idea:
The last few days have confirmed the formation of an inverse head and shoulders pattern, breaking the downtrend.
The prerequisites for this pattern appear to fall in line:
-Volume is heavier on left shoulder
-Volume a bit lighter on the dip to head trough
-Volume even lighter on the third dip, forming the right shoulder
-Increase in price breaks the neckline, with higher volume
Moved up and made a return move to the neckline. Hopefully followed by new highs.
*Disclaimer: This is not financial advice. This is a very basic TA by a curious newbie in this field.
The last few days have confirmed the formation of an inverse head and shoulders pattern, breaking the downtrend.
The prerequisites for this pattern appear to fall in line:
-Volume is heavier on left shoulder
-Volume a bit lighter on the dip to head trough
-Volume even lighter on the third dip, forming the right shoulder
-Increase in price breaks the neckline, with higher volume
Moved up and made a return move to the neckline. Hopefully followed by new highs.
*Disclaimer: This is not financial advice. This is a very basic TA by a curious newbie in this field.
