Inverse H&S is also showing up within the pattern, giving further indication that a bullish breakout might be imminent. If we do breakout to the upside, we should be at least able to hit the purple target, however I'll be eyeing the orange target to take profit :)
Edit: I placed the downside arrow in the wrong area, a break to the downside would occur if it...
I'm pretty new to this but it looks like we have a head and shoulders formation for EGLD. With this formation we want to watch the neckline closely, and if it breaks to the downside I used the red line to predict a potential bottom to the ensuing downtrend. As you can see, this target also coincides with a previous support level as well so it makes sense. Love the...
