Hi,
there is inverted head & shoulders pattern forming. Well by Buklowski encyklopedia of chart patterns head and shoulders bottom pattern has specific volume pattern. Volume is usually highest on the head, than the left shoulders (here are about the same but that is ok) and then right shoulder has the lowest volume. A rise from the head to to right shoulder accompanies a rise in volume as does actual breakout.
Ok so we are awaiting for breakout on higher volume to confirm the pattern and target of 15 usd.
Well by Elliot wave i expect at least one more leg above 25sep 11 usd high so this pattern should work. (There is count by which 25sep 11 usd high was C wave of running flat but it is very very rare pattern so will ignore it).
There is also Tom Demark bullish price flip that happened yesterday so today it is number 2.
Check links down under for more info
there is inverted head & shoulders pattern forming. Well by Buklowski encyklopedia of chart patterns head and shoulders bottom pattern has specific volume pattern. Volume is usually highest on the head, than the left shoulders (here are about the same but that is ok) and then right shoulder has the lowest volume. A rise from the head to to right shoulder accompanies a rise in volume as does actual breakout.
Ok so we are awaiting for breakout on higher volume to confirm the pattern and target of 15 usd.
Well by Elliot wave i expect at least one more leg above 25sep 11 usd high so this pattern should work. (There is count by which 25sep 11 usd high was C wave of running flat but it is very very rare pattern so will ignore it).
There is also Tom Demark bullish price flip that happened yesterday so today it is number 2.
Check links down under for more info
