The last few days have shown a build of an inverse head and shoulders pattern.
The prerequisites for this pattern appear to fall in line:
-Volume is heavier on left shoulder
-Volume a bit lighter on the rally to head peak
-Volume even lighter on the third rally, forming the right shoulder
-Increase in price breaks the neckline
Moves up and now is possibly making a return move to the neckline. Hopefully followed by new highs.
*Disclaimer: This is not financial advice. This is a very basic TA by a curious newbie in this field.
The prerequisites for this pattern appear to fall in line:
-Volume is heavier on left shoulder
-Volume a bit lighter on the rally to head peak
-Volume even lighter on the third rally, forming the right shoulder
-Increase in price breaks the neckline
Moves up and now is possibly making a return move to the neckline. Hopefully followed by new highs.
*Disclaimer: This is not financial advice. This is a very basic TA by a curious newbie in this field.
Comment:
Where I mentioned "rally" and "peak" I meant "dip" and "trough". Forgive my poor english.
