The head and shoulder went up beyond that chart? And really, you can't see that other bullish pattern within that head and shoulder?
(P.S.: Most ppl wouldn't see that pattern I'm talking about. You can't find t in a textbook or on a web page. And even if I told you what it was, you wouldn't believe me anyways...)
As to that failed double bottom, if I was trading this, I would have spotted that other bearish pattern within in. It wasn't a matter of resistance that caused the double bottom to fail, but something else that has topped within that double bottom formation exactly where it started to go down.
(I can't tell you about this other pattern I'm seeing. I wouldn't want to give away my knowledge freely?)
The real truth is, there is a level of knowledge you're missing! Head and shoulders, double bottoms, that's the basic stuff, anybody can tell those apart. The real good stuff is the intermediate knowledge that few discover thru trial and error. In other words what separates the run of the mill traders and the pros is this esoteric knowledge which I'm not willing to part with...)
Btw, this esoteric knowledge I'm talking about, I discovered it by looking at intraday line charts. Candlesticks are mostly for daily charts, the real good stuff you're supposed to see, can only be seen on the minimalist line charts. But once you see them, it's pretty easy to extrapolate their appearance back on the candlestick charts, which is why I'm able to see them on the candlestick charts you've provided!
