So, some say the law has been broken (breaking the law and all is cool, however the law still remains!) - and I disagree. My head and shoulders pattern may have been broken, however this latest move just puts us into an ascending channel which will likely result in a down break (90%+ of the time follow the latest trend - which equals down in this case!) to the same level as previously predicted! From here; coincidently coinciding with the 6th; we go up!! Thank me later xx
Note
PS you can skew my original head and shoulders so that we have JUST formed the right hand shoulder... Meaning again... we are going back down to where we expect before the run up! Geeze for crying out loud... have some faith!!Note
As you can see we have commenced our descent towards our target area. I would probably amend it slightly to be somewhere around 7100 - 7200 by the 6th of June. This will be our bottom. We will then start our ascent upwards over the next month to around 11,800 by 6th of July before retracing again.Note
Still descending towards our target area before preparing for lift off!!
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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.