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SkyTrees
Sep 16, 2023 7:01 AM

H&S Signal for a market correction?  Short

Netherlands 25OANDA

Description

A bearish H&S pattern has emerged on the NL25 index against a strong resistance structure which I believe is the beginning of a market correction.

Comment

You can clearly see a death cross with the 20EMA crossing paths with the 200EMA signifying a correction in the market. Strangely, this was also the first index to record this anomaly which lead to the correction in Jan 22'.

investopedia.com/terms/d/deathcross.asp

Comment

We've seen a test of the H&S base as resistance with the bearish continuation.

Trade closed: target reached

As planned.
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