Complicated H&S with two heads with the second head being higher than the first one.
Possible bearish W pattern/I did not measure? but seems to have pulled back forming an ABC bullish pattern as well as the inverse head and shoulders.
There is a GAP under price. Uptrend noted. Price has broken the neckline and awaiting a confirmed uptrend.
No recommendation.
The inverse head and shoulders pattern is characterized by three valleys (the upward head and shoulders have peaks), with the middle valley being the lowest.
An inverse head-and-shoulders pattern occurs in all markets, on all time frames, and is associated with the reversal of a downward trend.
You can enter a long position when the price moves above the neckline, and set a stop-loss at the low point of the right shoulder.
The height of the pattern from the breakout price should be your target price using this pattern. You can also draw a line from the head (the lowest valley) to the neckline, then use the magnet to move the line and project it upwards from the neckline to get a guesstimate of where price might go. Nothing is a given.
Possible bearish W pattern/I did not measure? but seems to have pulled back forming an ABC bullish pattern as well as the inverse head and shoulders.
There is a GAP under price. Uptrend noted. Price has broken the neckline and awaiting a confirmed uptrend.
No recommendation.
The inverse head and shoulders pattern is characterized by three valleys (the upward head and shoulders have peaks), with the middle valley being the lowest.
An inverse head-and-shoulders pattern occurs in all markets, on all time frames, and is associated with the reversal of a downward trend.
You can enter a long position when the price moves above the neckline, and set a stop-loss at the low point of the right shoulder.
The height of the pattern from the breakout price should be your target price using this pattern. You can also draw a line from the head (the lowest valley) to the neckline, then use the magnet to move the line and project it upwards from the neckline to get a guesstimate of where price might go. Nothing is a given.