JPM - Update (H&S to Descending Triangle)

1023 11 4
The H&S has been redrawn a little bit. Now we have 2 bearish Patterns. If 50$ will fall, I maintain our targets, if the upper line of the triangle will be broken then I'm thinking of a rally to 55$ per share.
Add a comment…classic textbook short set up
Add a comment…classic textbook short set up
Looks nothing like a head and shoulders (do people have two right shoulders?). Looks more like a descending triangle.
Investazor Vconomics1
In Technical analysis there are multiple types of Head and Shoulders. From simple one to more complex that have several shoulders, and the commentary was "The H&S has been redrawn a little bit".
if that falling resistance line breaks you can put your target much higher than 55
Nice! EW confirms this view. Don't think it will move up from here. If price breaks nicely in impulsive manner it could turn out to be a 3 of 3 making it to the extend target.
Razvan raul.luna.7524
I would not exclude the upside break :)
Excellent work. Very clean and simple chart pattern to follow.
Razvan QuantitativeExhaustion
Thank you! TrandingView has some pretty nice and easy to use TA instruments.
Did you see the new Fibonacci and Gann erase line feature. You the erase tool with cntrl key and you can erase individual lines within the Fibonacci and Gann tools.
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