ENJBTC - All Lined Up for Inverse H&S Breakout

8 Nis 2018

Textbook Inverse H&S? All we need is some volume. Is that going to come tomorrow when the new exchange is announced? Or is everyone going to sell the news?

Popcorn in hand, lets double up.

8 Nis 2018

Not

Pop

8 Nis 2018

Not

9 Nis 2018

Not

One last trend line of resistance. Surprisingly strong.

9 Nis 2018

Not

Simple explanation for the resistance seen earlier this evening that effectively stalled the breakout. There is another similar inverse h&s pattern, and the black line seen in my previous comment is the neckline of that pattern. Necklines are resistance, and the pattern is only complete once a breakout is made. If this neckline is broken tomorrow following the new exchange, I believe we see a very, very nice run to 2200+.

Here are two snapshots of the different inverse head and shoulder patterns.