Is Ivan on Tech wrong?!
IoT identified what he is interpretting as a H&S reversal. Im not saying he's wrong, its just that fundamentally, I do not see it.. Ideally, you want to see shoulders of identical height and amplitude which also have crests which are equidistant from the head's crest. With the shoulders not the same distance we do not have validation of this pattern. The left shoulder to the head is 40 bars while the head to the right shoulder is only 15 bars. Also, you can see by the dark blue line, the shoulders are not the same height and the dark green line shows an upward sloping neckline. what do you think?
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.