Inverse Head and Shoulders - Bullish idea
The Inverse Head and Shoulders pattern is one of them that when it works, it's so good! Really, it's just a push against resistance or support isn't it but somehow we continue to make these patterns. I suppose if you were a whale.. this is where you'd catch the most fish.
IDEA
Keep that title in mind, this is just an idea but for those of you that haven't spotted it, the way I see these first is by changing the candle on my chart to lines and things get a little clearer. I tend to use lines for accurate, or more accurate horizontal channel marking too. Then switch back to candles and look at the respect of the middle of the channel.
It would be super sweet to see this price fight with the Order Block a bit, take out the Weekly level and retrace back down to fill in that CME gap. Would catch the 618 really nicely too. So I think we have confluence there don't we?
If we pull back a but further, there is a monthly level and VAL (Value area low), we don't want to lose them if we want to go higher.
The 1-1 measurement takes us to around 87k.
I'm not really a pattern trader as such but you see it, you say it. What are your thoughts on patterns?
BTCUSDT.P
IDEA
Keep that title in mind, this is just an idea but for those of you that haven't spotted it, the way I see these first is by changing the candle on my chart to lines and things get a little clearer. I tend to use lines for accurate, or more accurate horizontal channel marking too. Then switch back to candles and look at the respect of the middle of the channel.
It would be super sweet to see this price fight with the Order Block a bit, take out the Weekly level and retrace back down to fill in that CME gap. Would catch the 618 really nicely too. So I think we have confluence there don't we?
If we pull back a but further, there is a monthly level and VAL (Value area low), we don't want to lose them if we want to go higher.
The 1-1 measurement takes us to around 87k.
I'm not really a pattern trader as such but you see it, you say it. What are your thoughts on patterns?
BTCUSDT.P 
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