📚 LEARN MORE 💰 EARN MORE With ForecastCity Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder). A “Neckline” is drawn by connecting the lowest points of the two troughs. Neckline support does not...
📚 LEARN MORE 💰 EARN MORE With ForecastCity Head and Shoulders Definition: A head and shoulders pattern is also a trend reversal formation. It is formed by a peak (left shoulder), followed by a higher peak (head), and then another lower peak (right shoulder). A “Neckline” is drawn by connecting the lowest points of the two troughs. Neckline support does...
In this video: * How to spot and draw a broadening wedge pattern. * What constitutes an official broadening wedge pattern. * Is the pattern bullish or bearish? * What is the probability of breaking down vs. moving further up? * How to measure target down and how to measure target up? * Other notes to make on how to trade.
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Currenlty, the (4 hour )candle seems to be bearish though two hrs are left. If Bulls are able to break this triangle, the next stop will be $41, and next target will be $50. Otherwise, we will continue with the pattern till Mar 31. Suggestiosn welcome to improve my chart readings Regards