We are looking at the Dow jones on the daily here and can see 2 distinct inverse head and shoulder patterns have formed here. The larger one I have indicated with a lavender neckline and the smaller one with a green neckline. Price action is currently above both of them and overall this is looking very bullish, however we must remember that the daily timeframe is less effective in traditional stock markets than in the crypto market because the market is much more mature. That being said , I’m pretty certain the larger of the 2 inverse head and shoulder patterns would qualify as a weekly pattern or possibly even a monthly timeframe pattern so if we can get a few weekly and maybe a coupe monthly candle closes above the lavender neckline this will be a very bullish development for the Dow and greatly increase the likelihood of these patterns validating their breakout. For now though, it’s looking awfully ripe. *not financial advice*
評論:
I always find it comical when the shoulder of an head and shoulders pattern form a smaller head and shoulders fractal of its own.
評論:
So far price action is climbing the dotted green measured move line like a stairway to the target. Love when it does this.
評論:
Very close to hitting that first target here.
評論:
1st target hit!!
評論:
2nd target hit! Finally!
