Bullish technical pattern. Opposite to the regular head and shoulders pattern, generally used to forecast beginning of a downtrend, the inverted head and shoulder, also known as a "head and shoulders bottom," is used to forecast the beginning of an uptrend. The pattern displays the following features. First, the price of the security falls though a lateral support line (left shoulder). Next price rises just below that support line (now resistance) to retest it, then falls again to a new low (head). From that point price establishes an oversold and solid base, moves upward toward the test prior lateral resistance line (right shoulder) and breaks above it. From that point on, resistance become support and price continues to climb.
As we all know, 2022 has been a painful year, and it continues to be so. What works during a bearish market are a few strategies: shorts, inverse ETFs, holding cash positions and day trading. Today we take a look at ATXI and see how we day traded it. Watch this video to get the technicals. Good trading! Trading Risk Disclaimer All the information shared is provided for educational purposes only. Any trades placed upon reliance of SharperTrades, LLC are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, cryptos, commodities, options, forex and other trading securities, there is also substantial risk of loss. All trading operations involve high risks of losing your entire investment. You must therefore decide your own suitability to trade. Trading results can never be guaranteed. SharperTrades, LLC is not registered as an investment adviser with any federal or state regulatory agency. This is