On this 15 min chart we can see a proper Inverse Head and Shoulder Pattern, but this is not all after the higher low we notice a triangle pattern formed at the right shoulder of the IHS pattern, more indication that the bull move will continue, target indicated by up arrow line. From experience wee know that a break of the neckline is not n break if not confirmed. The eclipse tool indicate just that, a confirmation of the break and possible bullish continuation.
We always consider where the price is when we start our analysis, what the price can do, what we will do looking at the highest probability, calculate our trade and execute the trade with confidence.
This is for educational purposes only and should not be used as advice to buy or sell any instrument.
Happy learning.
We always consider where the price is when we start our analysis, what the price can do, what we will do looking at the highest probability, calculate our trade and execute the trade with confidence.
This is for educational purposes only and should not be used as advice to buy or sell any instrument.
Happy learning.
Comment:
We can see how the price continued higher after the trend reversal signal, Inverse head and shoulder pattern.