Dear Traders!
In the 4-hour chart it is likely that a H&S Pattern is forming.
Why do I think that?
It's because in the 4-hour chart we have just touched the 50 SMA, which builds support for the right shoulder on the neckline.
Br, siwe7
In the 4-hour chart it is likely that a H&S Pattern is forming.
Why do I think that?
It's because in the 4-hour chart we have just touched the 50 SMA, which builds support for the right shoulder on the neckline.
Br, siwe7
Comment:
Sorry, not 50 SMA, but MA. It's the green one.
Comment:
Note: This scenario depends on the 50 MA, whether it holds or not.
If it holds, a H&S seems likely to me.
If not, we will see a correction far beyond 10k. best would be around 7k. Than we might see transition from EW 2 to EW 3.
If it holds, a H&S seems likely to me.
If not, we will see a correction far beyond 10k. best would be around 7k. Than we might see transition from EW 2 to EW 3.
Comment:
H&S Pattern failed.