T4P that's yet to be confirmed.
As you correctly stated the beginning of the inverse h&s pattern occurs after a downtrend. The formation of the left shoulder in this instance occurs after the sp retraces from: 0.16 to 0.073 (-54.49%). Although it occurred over a relitively short time frame, it's quite a significant retrace! As we all know this end of the market is highly volatile, so while it may not show the classic formation with a protracted down trend as you'd expect in a much larger MC stock, to date it has still followed all the rules.
Confirmation is when/if sp rises above the neckline.
Cheers!
Ann: Avalon Nb-REE Drilling Gets Underway, page-156
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