Update on the weekly analysis which has been really good to me since 02 May! So here is what we have, the neckline is broken, which is highlighted as that red rectangle with the black border line. Now what happens is we wait for the retracement to the neckline which got broken out, some call it "the last kiss". I foresee the possible consolidation around that area as it has quite a lot of support/resistance areas and also it is a bullish trendline break which will be also confirming the third touch on our bearish trendline starting from the head to the right shoulder and to that breakout retracement.
The two identical rectangles drawn on the sides i.e the breakout of the red rectangle towards the left shoulder and the break from the right shoulder down are just points I call "twin plug" due to how when such identical pattern forms it turns out to give similar result.
Feel free to advise.
The two identical rectangles drawn on the sides i.e the breakout of the red rectangle towards the left shoulder and the break from the right shoulder down are just points I call "twin plug" due to how when such identical pattern forms it turns out to give similar result.
Feel free to advise.
