If this does play out these are the possible targets:- Bulkowski's Measure Rule : Flags, up breakout = Flag low + ((Flagpole height) * 46%) = $40574 Measured Target : $43246
If we take the wicks out of the equation we can see that we made Bulkowski's minimum target! Triangles, Symmetrical, down breakout B - ((H - L) * 36%) B = The breakout price which is where price pierces a trendline H = Price of the highest peak in the chart pattern L = Price of the lowest valley in the chart pattern
It is clear now to see that we put in a Head & Shoulders top so are we done?
Well these can be broken but all the signs are we have completed (c)?
As I was bullish given previous charts and still long term, I now think we may be being influenced by the symmetrical triangle which turned down and the bearish cypher pattern!
Looks very convincing lets see if it plays out?