This idea for BTC progression is based on: - first dip / correction with an inverted shoulder formation - and immediately forming an inverted Cup - with another recursive inverted cup on the way
There by suggesting a general downtrend progression, until reaching a support below its immediately previous correction. And then proceeds to bounce back with an expanding wedge .
PS: I'm a beginner, all suggestions are welcome. Cheers!
Appreciate the suggestion, You are right, will take a look and rectify the pattern accordingly 👍
Positic
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Do you mean invers Head and Shoulders instead of Shoulders formation? And if you do mean IHS, I personally wouldn’t identify it as a inverse Head and Shoulders pattern just because the Head always needs to have the lowest bottom. And the two shoulders need to be the highest bottoms.
You are right, will take a look and rectify the pattern accordingly 👍