Inverted H&S reversal likely building. Bearish continuation structure on Left Shoulder likely sees a mirroring effect here, synchronicity is common in shoulder formations and makes for a stronger neckline.
Targeting 2392 (+25%) should we get a meaningful break of 1820 level.
Trade Status - Pending. Likely to chop around a bit more first (see potetnial left...
Valid volatility squeeze by my methodology.
Break of 2666 sees a likely run of 2910 with possible overperformance to the 3k level.
5.5 RR potential set up with clean structure
I see many similarities between our current macro economic environment and that of four years prior.
Banks were in a very tough spot and crisis was imminent, in March 2020 we have Covid 19, a global shut down and a humongous financial bailout.
Fast forward to present day, the situation is un changed, arguably a lot worse with the amount of stimulus since 2020....
