Head and Shoulders Reversal
Nasdaq has been trending since the middle of May. It broke the trend on July 15th and checked the underside of the trend on the 16th. Today it completed a precise Fibonacci Retracement which coincides with a potential downwards channel.
This sequence highlights a Head and Shoulders reversal pattern which is nearing completion. Don't forget, the trend has already been broken (and checked).
It is worth noting that there is a small, upside-down Head and Shoulders at the low yesterday, highlighted in a circle. That pattern was legitimate and has already reached target.
This sequence highlights a Head and Shoulders reversal pattern which is nearing completion. Don't forget, the trend has already been broken (and checked).
It is worth noting that there is a small, upside-down Head and Shoulders at the low yesterday, highlighted in a circle. That pattern was legitimate and has already reached target.
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