Head and shoulders, rinse and repeat
Updated
Just a cheeky potential outcome
everyone knows we are in a big inverse Head and shoulders pattern, with right shoulder (reversal point) at $9200.
In order to get us there, and to induce a bit of fear, i see a regular head and shoulders forming on the 30 min timescale
If the 30 min pattern follows through, we will see some panic which will cause some short selling down to our $9200 level
This is ultimately a good sign, as we will complete the clear inverse H+S, but it means i will be short term short until we reach $9200
everyone knows we are in a big inverse Head and shoulders pattern, with right shoulder (reversal point) at $9200.
In order to get us there, and to induce a bit of fear, i see a regular head and shoulders forming on the 30 min timescale
If the 30 min pattern follows through, we will see some panic which will cause some short selling down to our $9200 level
This is ultimately a good sign, as we will complete the clear inverse H+S, but it means i will be short term short until we reach $9200
Note
the short is going well. the 30 min H+S ended earlier than expected but now we are on our way to 9.2k
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