So on the 1h chart we can identify one of the oldest patterns called the stego pattern, named after an investor stegosaurus. Right now we are in the middle back part, and it will no doubt fall down to reach a lower "neck" level. After this we can see two scenarios as depicted. The explanation of this is very technical with investment jargon, but in essence: the...
So for the traders among us that were children in the past, there is this song which goes: Head, shoulders, knees and toes, knees and toes <--- Head, shoulders, knees and toes, knees and toes And eyes and ears and mouth and nose Head, shoulders, knees and toes, knees and toes So naturally, we should see a head shoulders pattern again
if you look at the 4H chart a trained eye can spot a 4-4-2 formation pattern, which will move us quickly towards the buy area as shown in the chart