Targets of the initial head and shoulders patterns were met, albeit after the market played mindgames on the traders, with giant drops out of the ascending wedges.
Now I see two competing Head and Shoulders patterns. Which one will break the neckline first?
I'm personally using the lines of invalidation as entry and exit points. I think it is safe as it will invalidate the inverse head and shoulders. Considering the mindgames the market plays, better be safe than sorry. Trade at your own risk!
Now if both necklines break, but neither H&S is invalidated (by price breaks of the heads)... LOL.
GOOD LUCK BULLS!
Now I see two competing Head and Shoulders patterns. Which one will break the neckline first?
I'm personally using the lines of invalidation as entry and exit points. I think it is safe as it will invalidate the inverse head and shoulders. Considering the mindgames the market plays, better be safe than sorry. Trade at your own risk!
Now if both necklines break, but neither H&S is invalidated (by price breaks of the heads)... LOL.
GOOD LUCK BULLS!
Note
Neckline of the Inverse head and shoulders has been broken. BULLISH.Note
KNOCK OUT! The winner is... THE GREEN TRUNKSVolume a little low tho. Not feeling confident about this rally.
Note
Bull flag developing. If the bull flag breaks up, the target will be met!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.