Well, we have many confluences here for support, but also for the target of this ascending inverted head and shoulder pattern.
If we get out of the descending wedge we are in, it make sense that we could get to the top of the channel, and then the target of that H&S coincides pretty exactly with the 1.618 Fibonacci extension level. We need a much higher bullish momentum that what we see right now though...
It is also a confluence with possible target of the related idea below, close to the 0.886 and the median line of the pitchfork.
Dream?
If we get out of the descending wedge we are in, it make sense that we could get to the top of the channel, and then the target of that H&S coincides pretty exactly with the 1.618 Fibonacci extension level. We need a much higher bullish momentum that what we see right now though...
It is also a confluence with possible target of the related idea below, close to the 0.886 and the median line of the pitchfork.
Dream?
Trade closed: stop reached:
Did not play out
