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Fri Feb 2, 2023 - Micro E-mini 5min
Kevin, true!!! Me neither, but maybe we should, as it might provide clues about where the pattern begins. This could indicate where the second low in the wedge bottom might potentially become a left shoulder.
Very similar to these (Cup&Handle, Head & Shoulder), no?
yes mate! thanks for the markups!
Fri Sep 13, 2024
Hi Satya! Thanks!!!
I recorded this trade, will post it later 😯
hey man, sure thing Mike!
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Not that I wanna get into this with you again because we went round and circles last time on this exact subject….. But a head and shoulders bottom is a MAJOR TREND REVERSAL pattern that occurs in DOWN trends.
There is no downtrend here. This is a pullback in an uptrend.
It is just a big high-2 bull flag. The 20 minute chart will show the H2 clearer. The hourly shows a H1 Bull flag.
It’s sort of shaped like a head and shoulders but the context is wrong for this to be a H&S bottom. It’s just a bull flag that’s been made a bit big and crazy because of an economic event.
Hey Kevvy,
Our discussion was really valuable to me; it helped me understand the subject better. Check out this slide from Al Brooks’ Encyclopedia. What do you think?
