VMY attempting a break on an Inverse H&S on the daily chart that follows on from a standard H&S
that had a failed break to the downside on 25/01. Both patterns combine on a weekly chart to one
large H&S top. A clear break of current levels provides a H&S Failure pattern entry signal with
a target of circa 0.39 (0.355 based on the daily pattern).
I am long today (a bit aggressively) at 0.265 with a stop at 0.22, though if it fails to hold above
the boundary by the end of the week I will likely cut it short. Not looking like the greatest close
so far.
GLTA
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VMY attempting a break on an Inverse H&S on the daily chart that...
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Mark Waller, MD
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