This isn't an ordinary Inverse H&S... one has to uncover hidden gems in order to reap the reward.
One of the MOST successful Inverse H&S patterns to trade is when it's in an Inverse H&S on lower timeframes but the current price is testing a Higher TF daily support.
In this case BTC is retesting daily support all the way back in Feb. 6th.... this has a much higher likelihood of breaking out to the upside than I originally thought - PT
49K!
When the pattern leans against the higher timeframe structure
On its own, the Inverse Head and Shoulders pattern isn’t significant.
But, if it leans against a higher timeframe structure (like Support and Resistance), it can be a powerful chart pattern to trade.
And if you need confirmation of the 1H timeframe Inverse H&S pattern - see my link below.
One of the MOST successful Inverse H&S patterns to trade is when it's in an Inverse H&S on lower timeframes but the current price is testing a Higher TF daily support.
In this case BTC is retesting daily support all the way back in Feb. 6th.... this has a much higher likelihood of breaking out to the upside than I originally thought - PT
49K!When the pattern leans against the higher timeframe structure
On its own, the Inverse Head and Shoulders pattern isn’t significant.
But, if it leans against a higher timeframe structure (like Support and Resistance), it can be a powerful chart pattern to trade.
And if you need confirmation of the 1H timeframe Inverse H&S pattern - see my link below.
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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.
Related publications
Disclaimer
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.