As we can see, there was a downward breakout from the white wedge.
The form of this move created two other wedges (green and pink).
The green wedge, in contrast to the white, is bullish and thus will most likely result in a sharp upward move (yellow dashed line).
This behavior will create a natural retest of the white wedge.
I predict that this will be followed by an equally sharp downward bounce, which in turn create a downward breakout from the largest (pink) wedge.
Alternatively, the blue dashed line will be another possible way.
Ultimately in my opinion this sequence will create an H&S pattern.
And remember, this is not financial advice.
The form of this move created two other wedges (green and pink).
The green wedge, in contrast to the white, is bullish and thus will most likely result in a sharp upward move (yellow dashed line).
This behavior will create a natural retest of the white wedge.
I predict that this will be followed by an equally sharp downward bounce, which in turn create a downward breakout from the largest (pink) wedge.
Alternatively, the blue dashed line will be another possible way.
Ultimately in my opinion this sequence will create an H&S pattern.
And remember, this is not financial advice.
