The possibility of an H&S with a bearish reversal, as I had previously proposed, will be invalidated if there is an upward crossing of the highest hypothetical left shoulder (approximately $ 8300)
Which is quite possible since the signal given by crossing the Bearish Trendline in red
(even if, on the dead cat bounces of 2018, I note that there was a pullback after this trendline, followed by a massive retracement, so be careful !)
By the way, within two days we will have reached for the hypothetical right shoulder + pullback a duration equivalent to the left shoulder: so without bearish retracement in two days, the H & S with bearish target will lose credibility! So, Bulls have a nice card to play this week to reverse the situation to their advantage, but will Bears let them do?
Which is quite possible since the signal given by crossing the Bearish Trendline in red
(even if, on the dead cat bounces of 2018, I note that there was a pullback after this trendline, followed by a massive retracement, so be careful !)
By the way, within two days we will have reached for the hypothetical right shoulder + pullback a duration equivalent to the left shoulder: so without bearish retracement in two days, the H & S with bearish target will lose credibility! So, Bulls have a nice card to play this week to reverse the situation to their advantage, but will Bears let them do?
Note
New pattern under study for an upcoming trade:
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Related publications
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.