Complex Head-and-Shoulders Bottom: Identification Guidelines
Price trend Downward leading to the pattern
Symmetry The shoulders should bottom near the same price, be nearly the same distance from the head, and look similar to their mirror opposite
Volume trend Usually higher on the left side of the pattern. Trends downward 65% of the time. The link to the left...
I'm pretty sure many of you know about the plans many people have for silver at the moment but here i am to provide a chart that could explain in a technical way why silver may rise up.
We have hidden Bullish divergence on the daily time frame on both the RSI and MACD and we look to have formed some sort of complex inverted head and shoulders pattern a breakout...
IWM is currently with a complex inverse head and shoulders pattern, and we are now sitting just below the neckline. It is trading above the 50/100/200 day moving averages, and it looks like a golden cross (50 MA crossing the 200 MA) may occur soon as well. Setup looks good, but it needs to break above the flat line of resistance around $158.60 to get moving. I...
The XLF is currently forming what appears to be a complex inverse head and shoulders pattern. As it sits right now, price is holding between the 50 and 200 day moving averages (50 day acting as support, 200 day acting as resistance) and we could be setting up for a golden cross (50 MA crossing the 200 MA) into an eventual retest of the neckline of this complex...
AT&T (T) is testing the neckline of this complex inverse h&s pattern, which also coincides with the 200 day moving average. If the price can break up from here, we could see T rally to $34-36.10. Personally, I want to see a break-out and retest of the neckline and 200 day moving average as new support (confirming that old resistance did in fact became new support)...
