Low on 9/15/17 and 2/6/18 make the neckline of this gigantic H&S. We penetrated the neckline on 3/28 and have just recently tested it as resistance.
Watching to see if we can break above this neckline and break the red downtrend line that has been proven to be very strong resistance. This would be very bullish.
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Disregard. "If the neckline is ascending then the only qualification of the formation lies in the fact that the lowest point of the right shoulder must be noticeably lower than the peak of the left shoulder."
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Could still be a cup and handle..
"A cup and handle formation is considered significant when it follows an increasing price trend, ideally one that is only a few months old. The older the increase trend, the less likely it is that the cup and handle will be an accurate indicator. The trade volume should decrease along with the price during the cup and should increase rapidly near the end of the handle when the price begins to rise"
NOT A H&S... I was wrong
" "If the neckline is ascending then the only qualification of the formation lies in the fact that the lowest point of the right shoulder must be noticeably lower than the peak of the left shoulder.""
TomPower
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@ROdoubleB, yeah and also the target is 0. what if we were to use a log chart
ROdoubleB
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@TomPower, This is a log chart. Formations don't always hit their targets. They can get stopped along the way by strong support.
" "If the neckline is ascending then the only qualification of the formation lies in the fact that the lowest point of the right shoulder must be noticeably lower than the peak of the left shoulder.""