Potential Inverse H&S for XRP?
Обновлено
Here is a potential inverse H&S I am watching in XRPUSD. Need to see a run up to the neckline near .45 - .46 from near current levels for it to be a serious contender, but since it slants upward, it could be a strong one.
The alternative view is that the inverse H&S already played out in a move above the neckline at .39xx (move up to .44xx), but it was quickly reversed and therefore counts as a failure. If so this could take us down to yet another test of lows (this would be the 4th).
Throwing weight in the bullish camp there is a potential inverse H&S also forming in BTCUSD.
There is also this long term bearish H&S pattern that is still on the table...
I know... either up or down. H&S patterns everywhere!
As a trader, sometimes it is best to sit by and wait to see. The good news is that we have specific points where we are proven right or wrong. A break below the head invalidates this pattern. A sustained break above the neckline confirms it.
The alternative view is that the inverse H&S already played out in a move above the neckline at .39xx (move up to .44xx), but it was quickly reversed and therefore counts as a failure. If so this could take us down to yet another test of lows (this would be the 4th).
Throwing weight in the bullish camp there is a potential inverse H&S also forming in BTCUSD.
There is also this long term bearish H&S pattern that is still on the table...
I know... either up or down. H&S patterns everywhere!
As a trader, sometimes it is best to sit by and wait to see. The good news is that we have specific points where we are proven right or wrong. A break below the head invalidates this pattern. A sustained break above the neckline confirms it.
Заметка
Price on track for the bullish option. looks like the market is trying to complete that right shoulder...
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.