Inverse H&S On The 10-Year Targets Taking Out October High
Trader Moe | Nov 17, 2015 11:44PM ET
ZN Inverse H&S (Red Neckline) at Blue Megaphone VWAP Targets Taking Out October High
The 10-year t-note has put an inverse H&S on its daily and 60-minute charts with a neckline at VWAP of the blue megaphone.
An upwards breakout from the inverse H&S would target taking out the October high by a little.
If the breakout turns into a megaphone right shoulder, it means a delay but the formation would still usually break out upwards when the megaphone completes.
A breakout downwards from the inverse H&S would mean a trip to the orange megaphone bottom, but you’d have to watch out for a bottoming pattern to form at the blue megaphone bottom for a big move upwards.
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