Head and Shoulders or Inverted Flag? Thoughts of a Noob
Close watch on march 5th:
-expect price to reach 7.15 if inverted flag is confirmed
-if flag confirmed look for MACD bullish zero crossover
-if bullish zero crossover confirmed, expect RSI levels to be short-50s
-expect price to reach 7.25 if right shoulder pattern is confirmed
-if shoulder confirmed look for MACD signal crossover, RS probably not strong enough momentum to break death zone
-look for low levels of RSI to confirm trend
**if MACD downtrend and price uptrend keeps up until March 5th, might discredit patterns
**second longest oversold RSI period (prior was 70-d), currently 63 and counting
-> if oversold period coincides with prior, may expect heavy downtrend
-> historically, AGF shown bad reaction to overselling periods (i.e. not attractive enough to buy the dip?)
Buy in: 7.15
Stop-Loss: 6.70
S0: 6.21
S1: 6.74
R: 7.25
R1: 7.40
R2: 7.60
-The Intern
P.S. Please do comment / trash / like / suggest / troll, I would love to get as much opinions on this, I am new to the game and everything can help!
-expect price to reach 7.15 if inverted flag is confirmed
-if flag confirmed look for MACD bullish zero crossover
-if bullish zero crossover confirmed, expect RSI levels to be short-50s
-expect price to reach 7.25 if right shoulder pattern is confirmed
-if shoulder confirmed look for MACD signal crossover, RS probably not strong enough momentum to break death zone
-look for low levels of RSI to confirm trend
**if MACD downtrend and price uptrend keeps up until March 5th, might discredit patterns
**second longest oversold RSI period (prior was 70-d), currently 63 and counting
-> if oversold period coincides with prior, may expect heavy downtrend
-> historically, AGF shown bad reaction to overselling periods (i.e. not attractive enough to buy the dip?)
Buy in: 7.15
Stop-Loss: 6.70
S0: 6.21
S1: 6.74
R: 7.25
R1: 7.40
R2: 7.60
-The Intern
P.S. Please do comment / trash / like / suggest / troll, I would love to get as much opinions on this, I am new to the game and everything can help!
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.