I forgot to mention about the inverted Head and Shoulders in my last posting. Please read the comments of my last posting.
However, the 15 Min chart at present shows a high chance of a failure (see the bearish engulfing). Look at the circled area. The light green line seen is the neckline. The breakout is not as powerful as normally happens. Instead it is forming congestion around the neckline along with the said engulfing.
It looks like a failure of the breakout is a possibility. If it fails, it could spell disaster more than what it could have been.
We will have to wait and see some more time to get confirmation.
Anyways, it is not a comfortable breakout…
