ETH/USD: head-and-shoulders pattern on 4 hour chart?

Ether / United States DollarCoinbase

Description

⋅ Dec 24, 2017 5:43 PM

If price breaks below USD 644, there would be a head-and-shoulders pattern

price target is USD 412
Calculation:
Measure distance between neckline and the head: roughly 231
Subtract this distance from where price breaks the neckline: roughly 643
--> 643 - 231 = 412

Chart Patterns ETHUSD

Comments

JBoro111

⋅ Dec 25, 2017 11:29 AM

So this is over then?

Commandeur

⋅ Dec 25, 2017 10:47 PM

@JBoro111, no not yet.
price is still below the resistance of "shoulder".
when price breaks above this resistance, the pattern would be invalidated