So my predicted Inverse head and shoulders didn't quite reach it's target. But I did manage to scalp some profit... Wasn't feeling exceptionally confident about the rally from a gut feeling and reading others' TA.
Nevertheless, now we have a perfect setup. A bigger Head and Shoulders pattern has emerged and it will be perfectly timed with the dump of last week. This will probably lead to a test of the downtrend channel as support, because we will be so close to it, may as well check.
GOOD LUCK BEARS!
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It just touched the neckline perfectly. Ominous signs.
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Getting squeezed between 8150 resistance and the neckline now.
Clearly you cannot claim we will dump by having a big red candle. If you look past on this run we are making, you can see similar patterns and you can see that it never dropped more that it. Its a healthy correction, and we should drop atleast to 8k to then go test 8500 and then yes then we can be scared to know what happens after 8550