Lot of alts making these inverted head and shoulders bottom patterns. I'm kinda just scanning for the ones that haven't broken out yet. Certainly not a guarantee to follow the same path but I believe Cardano led this whole pump (aside from Litecoin).
I think the neckline is actually that 13337 (heh) but could be slanted neckline that's already broken
I think the neckline is actually that 13337 (heh) but could be slanted neckline that's already broken
Kommentera:
horizontal neckline appears to have broken here.
Kommentera:
Was a false break intraday and think my timing was a bit off but still like the look of this and several other alts. Lot of them continue to look like pretty clear bottoming patterns to me
Kommentera:
Volume is really all you need to look at. BULLISH
Kommentera:
I was too early on this play, which is just as good as being wrong, but I think the pattern I was watching is playing out. Just goes to show why you should stick to classical rules and wait for high volume neckline break and pullback. We are at that point now.
Kommentera:
according to magee's rules you buy ~40% pullback from right shoulder move through neckline. it actually wicked perfectly to the .618 which is more than I would expect but is just above ~40% here.