Morning folks,
So, today we do not need to do many things - just re-shape the pattern a bit, as we've got the right arm's bottom, and now we could set the potential target of this H&S pattern. Supposedly, we watch for 2nd leg of downside retracement starting point around $61.75K. It means that downside target also will be higher - not at 42 but around $44K. There are another nuances exist around this pattern, you could watch them in the video on FPA site.
So, today we do not need to do many things - just re-shape the pattern a bit, as we've got the right arm's bottom, and now we could set the potential target of this H&S pattern. Supposedly, we watch for 2nd leg of downside retracement starting point around $61.75K. It means that downside target also will be higher - not at 42 but around $44K. There are another nuances exist around this pattern, you could watch them in the video on FPA site.
ForexPeaceArmy BTC analytics :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/