This is a pretty incredible inverse head and shoulders trend continuation pattern.
Interestingly enough, APPN had a similar pattern from January 2018 through August 2019, where it finally broke out, producing a profit in excess of 45% from the breakout point to the high:
Keep an eye out for a possible false breakdown. The best trades tend to run and never look back, but be mindful for a possible inside pattern correction like WORK had in the chart here:
Perfect patterns do not always make it easy. But this is some golden price action...
Interestingly enough, APPN had a similar pattern from January 2018 through August 2019, where it finally broke out, producing a profit in excess of 45% from the breakout point to the high:
Keep an eye out for a possible false breakdown. The best trades tend to run and never look back, but be mindful for a possible inside pattern correction like WORK had in the chart here:
Perfect patterns do not always make it easy. But this is some golden price action...
Note
Symmetrical triangle on the 1hr developing. Could run from hereNote
Broke out of pennant on the smaller time frame. I am looking to add at 67.80. I would not be surprised to see a single day advance of 10-20% in the coming weeks:Note
My trailing stops were all triggered at $74. We may see a return to the neckline. I'll be watching for a bounce spot at 64Note
tagged 64 and reversed for new highs:Note
Setting up again after a brief consolidation period. Above 156 revisits 170s:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.