Yes it's a possibility as well, but an inverse H&S could
also form. A lot of people see that H&S possibility is
one problem, when too many people see it, it doesn't happen.
Remember last year summer time, everyone was looking for a right
shoulder to form a bearish H&S pattern on the SPX, well a RS
formed, but it then morphed into an Inverse H&S instead.
I would just keep an open mind and react to what the market
gives you vs predicting.
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Yes it's a possibility as
Comments??????
Posted by matt on 29th of Jun 2011 at 02:48 pm
Yes it's a possibility as well, but an inverse H&S could also form. A lot of people see that H&S possibility is one problem, when too many people see it, it doesn't happen.
Remember last year summer time, everyone was looking for a right shoulder to form a bearish H&S pattern on the SPX, well a RS formed, but it then morphed into an Inverse H&S instead.
I would just keep an open mind and react to what the market gives you vs predicting.