Alikze »» RUNE | Head and shoulders pattern scenario

1 Tem

🔍 Technical analysis: Head and shoulders pattern scenario

- According to the analysis presented in the previous post, he retested the supply area after exiting the congestion, but failed to break it.

- It is currently moving in an ascending channel in the weekly and daily time frames, which has broken the dynamic trigger.

- A head and shoulder pattern has formed in the weekly time frame.

💎 If after retesting the dynamic trigger fails to break it and breaks the neckline, it can confirm the head and shoulder pattern for a downward trend to the origin of the movement, which can have downward targets near 3.13 and 2.35 and a green box.

💎 Alternative scenario: if the dynamic trigger is broken, its first target will be $6.25 and then it can be offered after the pullback to the successful structure of breaking the zone, it can have the next targets of $9.38 and $12.5.

🛑 Resistance range: 6.25 - 9.38 - 12.5

🟩 Support range: 3.13 -2.35

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4 Tem

Not

Due to the slow selling pressure on the green box, if the next daily candle closes below the green box area, the neckline is broken and any pullback to the broken structure can touch the downward targets specified on the chart.

5 Tem

Not

In accordance with the movement path after selling pressure and breaking the green box area, the first target has touched the 3.13 range with 27% correction.