5 minute h&s inside 30minute h&s's right shoulder triggers

27 giu 2019

A 5 minute chart head and shoulder pattern hidden inside the right shoulder of a 30 minute charts head and shoulder pattern has triggered and reached its drop target sending price action down to the neckline of the 30 minute head and shoulder pattern. If the 30 minute h&s pattern triggers it's drop target is 9.6k or so. Considering we have gaps on the CME futures contracts to fill around 8500 odds are very good we will continue to dip lower so I think it's no coincidence that on the eve of the G20 summit at which they will be discussing unilaterally applying the FATF's new universal rules on crypto that the exchange bittrue suffers a big hack and price plummets setting the stage with pre FUD for G20 to employ even more FUDmongering. So I anticipate even more FUD from G20 to take the price even further doesn't to the 39% retracement support line at 8504 to fill all th gaps on thee CME futures. They say in stocks "All gaps must get filled" and while statistically 91.4% of all up gaps do get filled her's still that .6% of the time gaps don't get filled so i is very wise to ladder back in portions of your position on the way to 8504 because here's np guarantee we reach the bottom gap. That's what I will be doing anyways of course this is no financial advice and just my opinion so take from it whatever you will. Thanks for reading and good luck!

27 giu 2019

Nota

current resistance is the 30 minute h&s neckline, the 30minute 200ma
and the horizontal at 11470 acting as triple reinforced resistance