ERDUSDT: Which chart pattern are we in ?

1. Inverse head and shoulders
2. Descending triangle
3. ???


Let me know what YOU think !

Bình luận:

So after the bottom of the head we did not hit to our neckline drawn here.

This means :

*Pink resistance line could be our new neckline so inverse head and shoulders is tilted a bit to right.
*OR we are in a descending triangle really. (we can make sure of it when we hit to pink support line and jump back from it.

either case, we can profit off of these probable chart patterns.

Bình luận:

seems like our descending triangle is broken, as well as inverse H&S for pink res. line. Either case very low volume currently, makes me think bulls are not in complete control. Can return into pink support line any time and can break it too. sorry but this price action is not a breakout for beforementioned chart patterns. no LONG position until I see a high volume big candle.

Bình luận:

So this was an descending triangle and it broke up.
Also in 30min TF, retest of the resistance line is done.

I missed the entry but happy for those who entered after reading this analysis.

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Bình luận:

some take profit levels.