Users: YummyTrade: slopechart_X.jpg


Nice potential H&S here but I'm unsure about the significance about the bounce off of the shoulders. No trades until it breaks, but what do you all make of the bounce off the shoulder and the upward angle of the shoulder/resistance line. Thanks for comments!

Image added via SlopeCharts


Your blue line coincides with my bottom orange TL from the 2016 low. So whether a H&S or not, the TL rules. 
As you said, no trade until it breaks, as it could go either way. 
Short if it breaks below the bottom orange. 
Short more if it breaks below my bottom blue horizontal support. 
The second chart shows a dotted purple I added. Recovering this uptrend will also take price up out of the Cloud [purple dashed]. 
Thank you @Violet ! 3/3/21
I wonder how many more of these are out there ... . 3/9/21
@Myopia - It seems like I've seen quite a few lately, i'll post more if I run across them again. I'm very glad @Violet posted, as someone relatively new to charting it's difficult (for me) to tell if these H&S are true or if they are just following the market in general. I worry that I am seeing H&S when it's not really there. Kind of like the old saying "when you have a hammer, everything looks like a nail." :-) EWW seems to be H&Sish right now but Tim has been looking at the long term trends more than H&S in EWW. AMGN appears H&S as well. Thanks for the conversation! 3/9/21