Silver target hit precisely after inverse head & shoulders break

27 Nis 2024

Just posting this update on the silver chart to exemplify how TA often does work with exact precision. As soon as the inverse head and shoulders on silver validated its breakout the price action climbed to the exact price target before its current correction. We can see how the wick on this particular chart even hit the top of the measured move line at exactly the time it hit its target. Always a cool thing when that occurs. *not financial advice*

27 Nis 2024

Not

As often happens with these patterns, the first break above the enckline is often not the official breakout move, in this particular situation we can see that price dipped back below the neckline 6 times before the official validation break above the neckline. And even once the official break above, it still went back down to the neckline to retest it as as solidified support for 13 more weekly candles…this one took a lot of patience and commitment before it was validated. I doing so it also formed another inverse head and shoulders with a slighter higher and more horizontal neckline. I will post a new chart idea of the newly formed head and shoulder neckline after writing this and will link this post to it.

27 Nis 2024

Not

Another way to visualize the 6 dips above and below the neckline is kind of like the same way the snakes of the caduceus or Asclepius staff coil around the staffs as they climb up them or perhaps the way a grapvine coils around something as it crawls up it as well…except in this case sideways instead of vertical.