On the weekly timeframe the purple line represents the flagpole, however if I zoom out to the monthly timeframe the neon lemon lime trendline is the full pole of the bullflag. Not sure which one will be the most valid in the long run so I have posted measured move targets for both. *not financial advice*
Now that we have reached the target of the smaller inv h&s neckline (which is also a right shoulder of the larger invh&s pattern) Getting to that target has allowed price action to rise above the neckline of the bigger inverse head and shoulders pattern shown here with the tan neckline. The right shoulder of the larger inv h&s pattern was not only its own invh&s...
This is probably more valid on a 3 day chart or so but still valid on a weekly chart as well. We currently have 1 daily candle poking its ahead above this downward slanted bubble gum neckline. I’d say if we can close 2 consecutive 3day candles above the neckline it should validate the breakout. For now the breakout is not confirmed, but if it confirms here the...
