Daily forming H&S

15 ก.ค. 2022

Green lines: bear flag , confirmed drop, and extended turned resistance.

Blue lines: Daily-Monthly fractals/ trendlines .

Purple lines: minor long term support

Yellow lines: major long term support

Shaded red area: Bear market panic zone

(dotted green line signifies my personal prediction from the hammer doji)


Notice the latest price action we have formed a funny looking H&S. This is the daily time frame indicating stronger possibility.

Also I have marked the beautiful hammer doji from previous days with green highlight (june 30). This was followed by days later a gravestone doji (july 8) contradicting action.

Finally the RSI currently forming lower highs, most recently being rounded out potentially signaling a fall.



Anybody looking for breakout confirmation should keep eyes on the yellow line, and where the green/yellow cross fractally around July 19 would be my personal best guess for a good jump into clear territory.


Regards,
Cucho