ABC Correction
H&S formation ?
H1 : Bull divergences (see green lines on indicators) + hidden bull divergence (look at the price standing higher low compared to point 4 while the RSI goes lower low)
Daily : Bearish hidden divergence + divergence on stochastic
Correction until 0.5 level or further ?
(logarithmic chart, you can see the rising wedge that nobody saw with linear chart)
H&S formation ?
H1 : Bull divergences (see green lines on indicators) + hidden bull divergence (look at the price standing higher low compared to point 4 while the RSI goes lower low)
Daily : Bearish hidden divergence + divergence on stochastic
Correction until 0.5 level or further ?
(logarithmic chart, you can see the rising wedge that nobody saw with linear chart)
Note
It could also form a range canal after B, which would result in a higher low for CKeep an eye on volumes
Note
Head and shoulder validated, faster with a lower pullback than plannedNote
Actually one of my only successfull analysis in early 2018
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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.