Sometimes breaking your neck isn't always a bad thing. After a fairly large consolidation after that inverse head and shoulders pattern, we can see from the 4h chart today,
ACB
is logically following suit with
WEED
, just cracking the neckline (indicated by the purple line) and waiting for that second confirmation above. The shadows of both candles just barely touched the resistance line at 12.00. The combination of these two factors means that we will probably see a hesitation, which generally happens after the neckline is broken with any sort of volume influx. Support was raised to ~10.60, stop loss is at 11.30, in case it decides to form a head and shoulders pattern and come back down to retest where the MACD's meet new support, but it is looking like we may close with indecision.
Thank you for viewing my charts!
ACB
is logically following suit with
WEED
, just cracking the neckline (indicated by the purple line) and waiting for that second confirmation above. The shadows of both candles just barely touched the resistance line at 12.00. The combination of these two factors means that we will probably see a hesitation, which generally happens after the neckline is broken with any sort of volume influx. Support was raised to ~10.60, stop loss is at 11.30, in case it decides to form a head and shoulders pattern and come back down to retest where the MACD's meet new support, but it is looking like we may close with indecision. Thank you for viewing my charts!
