Good day everyone.
Today, I'll be discussing the inverse (inverted) head and shoulders reversal pattern.
1. DEFINITION
What is Inverse Head And Shoulders?
An inverse head and shoulders , also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in...
A while ago I made an analysis on the expected future price action of DENT, see below.
While the bullish move happened quicker than initially anticipated, the 0.0075 resistance mentioned in the previous analysis was almost spot-on.
At the moment we're seeing a period of consolidation for DENT, which was expected after the huge move from early...
Looks like a symmetrical triangle has formed in 4H timeframe and a breakout is expected soon, based on the price losing momentum I guess most likely the scenario is gonna be a bearish breakout, on the other hand EMA50 is standing right on top of bottom trendline making a bullish move possible as well.
I am gonna wait and see what happens and with what volume, then...
Here's a quick look at DENT 2 hr chart. As we can see, the price has printed a symmetrical triangle and we could see a breakout very soon! The best entry would be, when the price breaks above the symmetrical triangle with good amount of volume .
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The idea is: Buy the breakout from the symmetrical triangle and take...
DENT is forming a cup and handle pattern on the one-hourly.
However, what might be more interesting is how, if the cup and handle on the one-hourly completes, this will lead to the formation of a cup and handle pattern on the weekly chart.
DENT is creating a possible bullflag! We are creating a tight range and searching now for a higher low. If the low is set we will search again for a lower high, till we break the low or highs.
Thanks for taking your time to check out my idea 😎😎! Often, my ideas are fast gone from the front page because there are so many ideas on the platform and the algo picks...
