A clear inverted H&S
Updated
Hello guys,
People who follow me know that I'm not a big fan of inverted H&S but this one in daily is incredibly beautiful. Volume is confirming it.
Not so much to say here: remember never trade a pattern before the breakout/breakdown.
In the case of a breakout, we could see a retest of the previous descending triangle which should act as a strong resistance now before a potential final wave down.
People who follow me know that I'm not a big fan of inverted H&S but this one in daily is incredibly beautiful. Volume is confirming it.
Not so much to say here: remember never trade a pattern before the breakout/breakdown.
In the case of a breakout, we could see a retest of the previous descending triangle which should act as a strong resistance now before a potential final wave down.
Note
I cant extend the inverted H&S a lot more: s3.amazonaws.com/tradingview/snapshots/b/bDKWvHup.png We are currently facing 50 MA, with a bullish triangle pattern. We should know by Monday which one will win.
The interesting point is we have now broken the longtime periodic trend of the Fibonacci specter level (change of color): I'm curious to see what will happen.
Note
LTC is breaking his resistance and try to establish his inverted H&S : 
I expect BTC to do the same tomorrow with the open of the futures.
Note
Don't forget to like, comment, share and follow if you want more content! Happy year of trading, can you smell the money too? :DNote
And... That's it! We will test the resistance neckline pretty soon. Bulls will need volume if they want to break it, a gap on Futures could help them.Trade closed: stop reached
Note
Neckline tested and be rejected with good volume. The stop is reached.
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