Long
US30 | INVERSE HEAD AND SHOULDER | Bullish
Updated
An inverse head and shoulders pattern is a bullish chart pattern that forms after a downtrend. It consists of three lows, with the middle low (the head) being lower than the two other lows (the shoulders). The pattern is completed when the price breaks above the neckline, which is a trendline that connects the high points of the two shoulders.
On the other hand, the CURRENCYCOM:US30US30 chart a pattern of lower lows and lower highs is typically associated with a downtrend, as each subsequent low and high is lower than the previous one. This suggests that the market is making lower lows and failing to make new highs, indicating a lack of buying pressure.
It is important to note that technical analysis is just one tool in investing and should be used in conjunction with other forms of analysis, such as fundamental analysis and risk management strategies. It is also important to remember that past performance is not necessarily indicative of future results, and investing always carries risk.
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On the other hand, the CURRENCYCOM:US30US30 chart a pattern of lower lows and lower highs is typically associated with a downtrend, as each subsequent low and high is lower than the previous one. This suggests that the market is making lower lows and failing to make new highs, indicating a lack of buying pressure.
It is important to note that technical analysis is just one tool in investing and should be used in conjunction with other forms of analysis, such as fundamental analysis and risk management strategies. It is also important to remember that past performance is not necessarily indicative of future results, and investing always carries risk.
Follow For more Ideas.
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Entry 2: TappedTrade closed: target reached
TP1: HITTrade closed: target reached
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