Ah yes, the classic bullish falling wedge overlapping a bearish head and shoulder pattern; tale as old as time. We can see price action here on the weekly chart is getting very near the apex of the falling wedge….however it has also closed several candles below the neckline of the h&s pattern. Still not certain which of the 2 patterns will win out but it does appear the decision is very likely to be made within the next 3-10 candles. For the falling wedge to win and a break upward it is imperative priceaction holds support on the blue 200 weekly moving average. If this is flipped to solidified resistance then probability will favor the head and shoulders breakdown. *not financial advice*
코멘트:
Even if the 200ma holds solid support, I still wouldn’t be 100% confident in the upside until price action also climbs back above the red neckline, and flips it to solid support..maybe even a pip above that at 300. So flip 300 to solid support and at that point I can be confident the wedge has validated its breakout.
코멘트:
Public storage daily candle has risen above the top yellow trendline and is already retesting the red neckline. Should it break out here instead of where my yellow dotted trendline is positioned. The breakout target will be adjusted higher.