Spotted what looks to be a clear Inverse H + S pattern on the weekly/monthly timeframes however alot clearer on Monthly
- Clearly defined "Head" + "shoulders" + Neckline
** Typically to calculate a target for such a pattern you would subtract the price of the neckline level from the low that the "head" of the pattern formed.
**You would then add this price to the breakout level
As such:
Neckline = ~ 1375
Low of "head" = ~ 1058
Breakout level = ~1375
> Neckline - Low of head = 1375 - 1058
=> $317
> Breakout level + $317 = 1375 + 317
=> ~ $1692 TARGET
- Clearly defined "Head" + "shoulders" + Neckline
** Typically to calculate a target for such a pattern you would subtract the price of the neckline level from the low that the "head" of the pattern formed.
**You would then add this price to the breakout level
As such:
Neckline = ~ 1375
Low of "head" = ~ 1058
Breakout level = ~1375
> Neckline - Low of head = 1375 - 1058
=> $317
> Breakout level + $317 = 1375 + 317
=> ~ $1692 TARGET