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Potential double top under major resistance. Looks too easy to be true?

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potential iH&S forming after extended downtrend

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price approaching resistance on declining volume RSI div

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major resistance RSI div top of rising wedge

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.786 fib retracement into major support level

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potential double top after extended bull run

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This idea goes together with the current situation in the S&P500. If the S&P500 holds current critical support and pulls off another bull run, then the Gold bear flag scenario could play out.

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potential bear flag formation at resistance level on declining volume

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up move getting weaker with declining volume reaching major resistance

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potential trend reversal inverse Head&Shoulders with declining volume at the bottom of a downtrend

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- bounce from LVN - bullish RSI divergence - tweezer bottom candles - potential double bottom forming

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bullish trend retracement - Fib cluster - LVN - falling wedge

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USDJPY bullish continuation - 0.618 Fib retracement - 1.0 symmetry Fib projection - LVN - slight hidden bullish RSI divergence

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confluence of - fib 0.5 - fib 0.618 - fib extension 1.272 - fib time 0.618 - MACD divergence - MACD bullish cross target: - measured move - OB

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Even if I'm not a fractal guy I have to admit that the correlation is quite amazing. The 2018 bear market really looks like a time compressed version of the 2014 bear market. Interesting to watch...

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Usually the volume is the highest on the left shoulder followed by the head. Here the right shoulder has the highest volume though.

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If this C&H plays out then it would support a bullish outlook with a target of $11150. However, unless a pattern is not yet accomplished, it is not relevant for a trade.

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If price stays above the blue trend line then this could be considered as a retest of the breakout form the long term downtrend. The increasing volume during the recent price increase is a bullish sign.