Guess what.... Maddie is back!
Because some of you found my chart's ugly i've made a new layout, with a little touch of pink :) hope you'll like it! Im no't gonna make a very long description on explaining patterns etc so, if this head and shoulder pattern breaks it's neckline for more than 1,5 days, than you should take a look @ my price prediction. Everything you need is in the chart, but if you still have any questions, feel free to ask them of course!
Have a great day,
Thanks for your question :)
The lines from peak to peak are just some trend lines. I drew a new trend line on March 5th because then a new peak on the RSI appeared!
I din't post the RSI instead, but if you take a look at the movements on the RSI you'll see that there is lots of bear divergence going on...
That pink line below is just the neckline of the H&S, if this line is broken for over 1,5 days than the pattern is confirmed and you can start calculating the target :)
Hope this answered your question.
Have a great trading day,
If the patten breaks we still see that target. The fact is still that we're very high on the RSI. Besides that I'm still waiting to take more positions, but it could be very possible to break the target. Let's just wait and see :)
XMR went down for several reasons, one of them was the bear divergence. Also the volume started to decline, that the trend line and the EMA line were broken and fomo started. Nothing really special, also the RSI needed to go down after 2 times above 70 s'.
Enough reasons for you? :)