Hello friends, Traders, interested,
the last couple of hours presented us a dip from our big H & S neckline. Some here called out, that the big head and shoulder has crashed. Not in my opinion. And I am not the only one telling you ----- all is going well. The legend Poop Cannoon described it a few hrs ago.
Okay, quick view into my Chart. There you can see, that we have a nearly perfect formed left and right shoulder. Both shoulders have nearly the same bottom. That indicates, that the actual dip wont go much deeper to form another (correct) right shoulder. In my opinion the right shoulder has still been formed. The dip now seems to be a Cup and Handle Formation. This formation sometimes occur on the right shoulder and is a sign of giving more power to the breakout on the neckine.
Now, we have to wait, if my point of view is correct and if we will now start the final attack on the neckline.
Take a look on the 2 hr- chart. Actually 2 bullish dojis forming, this might support my Idea.
Okay, as always, no trading advice, just educational. Trade on your own risk.
Best whishes, Sascha
the last couple of hours presented us a dip from our big H & S neckline. Some here called out, that the big head and shoulder has crashed. Not in my opinion. And I am not the only one telling you ----- all is going well. The legend Poop Cannoon described it a few hrs ago.
Okay, quick view into my Chart. There you can see, that we have a nearly perfect formed left and right shoulder. Both shoulders have nearly the same bottom. That indicates, that the actual dip wont go much deeper to form another (correct) right shoulder. In my opinion the right shoulder has still been formed. The dip now seems to be a Cup and Handle Formation. This formation sometimes occur on the right shoulder and is a sign of giving more power to the breakout on the neckine.
Now, we have to wait, if my point of view is correct and if we will now start the final attack on the neckline.
Take a look on the 2 hr- chart. Actually 2 bullish dojis forming, this might support my Idea.
Okay, as always, no trading advice, just educational. Trade on your own risk.
Best whishes, Sascha