Hi All
There is a second "tea cup" shape forming that agrees with several other indicators.
We orange line shows a drop and an attempt to recover that later was followed with an ABC correction pattern.
Second tea cup started (fuscia line) and this one is doing several things. First is trying to grow in the red bullish channel but struggling to go over the $890 although it already made it once. The last three it has been over the lower limit of this channel which is not else but helping to form the H&S formation. It is clear for me that this formation is going to be completed, let's just wait for a candle to go through the lower red line. If this happens the H&S will be complete and will drop down to complete the second "tea cup" at about $600.
This will complete the massive H&S that started in December of last year and there we will buy and go up up up.
Any comments?
Please click thumbs up if you like the idea.
There is a second "tea cup" shape forming that agrees with several other indicators.
We orange line shows a drop and an attempt to recover that later was followed with an ABC correction pattern.
Second tea cup started (fuscia line) and this one is doing several things. First is trying to grow in the red bullish channel but struggling to go over the $890 although it already made it once. The last three it has been over the lower limit of this channel which is not else but helping to form the H&S formation. It is clear for me that this formation is going to be completed, let's just wait for a candle to go through the lower red line. If this happens the H&S will be complete and will drop down to complete the second "tea cup" at about $600.
This will complete the massive H&S that started in December of last year and there we will buy and go up up up.
Any comments?
Please click thumbs up if you like the idea.
