WBD | Wave Analysis | Downtrend breakout | Inv. Head & Shoulders
WBD : Wave projection - weekly price action and chart pattern analysis
> The downtrend channel 5 motive wave breakout with a possible valid inverted head * shoulders pattern formation
> A potential ABC correction uptrend pattern - a typical wave b bull flag pattern for right shoulder pattern targeting at 0.618 - 0.786 fibonacci retracement of wave a.
> If successfully breakout neckline - TP wave c at 1.618 extension of wave a near MA200w zone +100%
> SL @ IHS position -20% downside
> Indicator : RSI week bullish divergence
Always trade with affordable risk and respect your stoploss
Good Luck
> The downtrend channel 5 motive wave breakout with a possible valid inverted head * shoulders pattern formation
> A potential ABC correction uptrend pattern - a typical wave b bull flag pattern for right shoulder pattern targeting at 0.618 - 0.786 fibonacci retracement of wave a.
> If successfully breakout neckline - TP wave c at 1.618 extension of wave a near MA200w zone +100%
> SL @ IHS position -20% downside
> Indicator : RSI week bullish divergence
Always trade with affordable risk and respect your stoploss
Good Luck