Block, Inc.
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SQ Textbook Inverse Head and Shoulders

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SQ has formed a perfect textbook HnS pattern. Additional points:
  • The pattern is relatively large
  • After breakout, price went to retest the neckline and got rejected with a pinbar pattern on the daily and 2H timeframe.
  • Price broke out of the 50 and 20 EMA


Green lines represent TP targets and red lines SL.
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A while ago I actually closed this trade for breakeven (small profit) as I was a little afraid and wanted to de-risk before CPI and trailed my stops. That might have been a mistake on my end. However, price is now looking like a triple top/HnS, I would look to close the position for small profit upon rejection of this resistance.

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WOW! price did not reject and continued to push higher towards the original target. Swim in profits. The idea was a success and I will not update this idea anymore.

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