️ Timeframe: 4H
Pattern: Inverse Head & Shoulders (Bullish Reversal Setup)
Current Price: $1,518
Neckline: ~$1,589 (marked in blue)
🧠 Pattern Structure:
Left Shoulder: ~$1,475
Head: ~$1,420
Right Shoulder: ~$1,470
Neckline: ~$1,589
Measured Target: Neckline to bottom = ~$1,589 – $1,420 = $169
→ Breakout Target = $1,589 + 169 = $1,758** — aligns [perfectly] with Fib 0.65 ($1,762)**
🧩 Confluence Factors:
Fibonacci 0.65 @ $1762 = Target zone of the pattern
Fibonacci 0.618 @ $1915 = Secondary resistance zone
Clean neckline retest idea → breakout & retest of $1589 = ideal entry trigger
RSI divergence (if any) & volume confirmation on breakout = final confidence boost
Strategy Plan:
Entry Idea: Break & retest of $1589
Take-Profit: $1758–1766
Stop-Loss: Below right shoulder ($1465–1470 zone)
Risk/Reward: ~2.5R depending on entry accuracy
Probability: 65/35 bullish continuation if neckline breaks with strong volume