You are viewing a single comment's thread from:
RE: BTC update 06.02.18
There are different ways to measure the target. You add the height of the neckline to the point of breach and get 956 as the target which is the classic approach. That's correct, but because I have seen a lot of H&S miss this target, I measure the minimum target differently. As you can see, I just project the height in the same angle downwards which leaves me at a minimum price target of 2800. It can be exceeded easily, but the probability of a legit H&S hitting this target is higher than hitting your target of 956.
That's all about it. Just a more cautious measurement. When analysing for an audience, it is always better to have the target exceeded, than missing the target ;-)
I hear you, brother! Thanks for clarifying your position... It is always a good practice to "under promise" and "over deliver." -
For embracing that general posture - you get EXTRA ninja-level "kudos" points from me, friend!
As for the benefit of the wider audience, with a quite similar intent to inform without "over-promising" ... H&S patterns and the targets derived from such are simply "references" from which to monitor future price action. They are NOT absolute predictions as to what will indeed occur...
Looking forward to your continued assessments of the intra-day price action, brother. Thank You, man!