Potential IHS - weak right shoulder, but it's possible
Comments
alexbeda
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thanks for your analisy ... I belive in this target
VWAP_McStinkypants
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Sorry, didn't mean to offend. I clicked on your popup,saw your charting mistake and thought I'd lend a hand. Read up on H&S patterns and the fundamentals of what develops the price action into a H&S (it's not just price), channel extensions, measured moves bull & bear pendants etc. The second chart you supplied shows 2 measured moves right on top of each other within a well defined price channel!
FYI- your original chart is a classic ascending triangle with a volume profile to match, not a "potential IHS with a weak right shoulder, but it's possible"
have a great weekend and good luck with your trading.
KLang
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Dude. I do believe a know a couple of things about measured moves and bull and bear pennants. That pattern is not an ascending triangle as it does not fill the space well. IHS at the top of a trend HAPPENS. You might want to take a look at a couple of my charts before you come to the conclusion that I need help with the basics.
If you don't like my charts - don't look at them. IHS can happen at the top of a trend and DO. Here's ONE on a daily time frame Want more?
octradr
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You tell Mr. Stinky what's up!
KLang
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Don't you love it when people give you advice about your basic training based on one chart. And yet, they've never published a single chart themselves? LOL