Narrative hasn't changed

22 thg 2, 2023

A little extra info from my last post. Same narrative, same resistance line, only a pattern is spotted.

This inverse H&S is very likely the reason EGLD will push to the levels mentioned in my previous post. Inverse H&S is the same as a regular H&S, only an inverse H&S breaks bullish, not bearish.

Will update if the pattern gets invalidated, don't expect it to though.

25 thg 2, 2023

Ghi chú

EGLD Going down from the resistance line, as expected.

Don't lose focus

27 thg 2, 2023

Ghi chú

Something important to wonder; where will the right shoulder bottom out?

While this is generally something hard to determine, it's the easiest to look for resistance zones. $41.10 is one those resistance zones. There is a high chance EGLD will bounce off of that (or wick below), and return up to finish the complete pattern.

It is ofcourse the easiest to just hold until this pattern has formed, because the narrative is still bullish. It's only a matter of time at this point.

3 thg 3, 2023

Ghi chú

We've bounced off of $41.10 :)

EGLD will likely reverse now and break the resistance line, creating a clear inverse H&S. Will keep updating this.