What I love about Google stock is the flexibility in it. google price going up trend so smoothly in the time that we see a lot of stock keep moving up and down with a lot of noise~
Alright, so what we see in the chart is "Inverted Head and Shoulders" is cooking; The 1st shoulder: Check, the Head: Check, the 2nd shoulder: in the progress...
the beginning of the pattern start to create after the price hit its highest high ($1291.44), and then the price starts to fall down to make the first shoulder.
Now, what's happening is the price want to break the old highs and make a new one in the next days but traders know that this can't happen without powerful pattern like "Inverted head and shoulders" to push the price back up
the idea here is after the 2nd shoulder exist the bullish will have great opportunities to push the price back up so powerfully because the end of the 2nd shoulder will be in the same level of the support line of the channel. (meaning there will be enough liquidity to push the price up) what will make the price hit the same level of the highest high and then, of course, the bearish will trying to keep the price back down (Pullback movement) but becurse of the value of that volume, the price expected to break the resistance and go upward to make new highest high.
#TradeSafe #TradeSmart
Alright, so what we see in the chart is "Inverted Head and Shoulders" is cooking; The 1st shoulder: Check, the Head: Check, the 2nd shoulder: in the progress...
the beginning of the pattern start to create after the price hit its highest high ($1291.44), and then the price starts to fall down to make the first shoulder.
Now, what's happening is the price want to break the old highs and make a new one in the next days but traders know that this can't happen without powerful pattern like "Inverted head and shoulders" to push the price back up
the idea here is after the 2nd shoulder exist the bullish will have great opportunities to push the price back up so powerfully because the end of the 2nd shoulder will be in the same level of the support line of the channel. (meaning there will be enough liquidity to push the price up) what will make the price hit the same level of the highest high and then, of course, the bearish will trying to keep the price back down (Pullback movement) but becurse of the value of that volume, the price expected to break the resistance and go upward to make new highest high.
#TradeSafe #TradeSmart