I’ve been messing around with necklines on both H&S patterns trying to get the best fit and I think I’m happy with them now. The larger H&S pattern is simply an extension of the small one anyway so the necklines for both are on the same trajectory.

The nominal target for the small H&S pattern was approximately 15.50 and the actual low was 15.67 so the pattern played out near perfectly. MACD is only triggering up on the daily chart now but it is doing so from a strongly negative position. A test of the neckline would come in at 20.50-20.60. I think it will be interesting to see whether the inverse correlation between $TNX and gold continues to hold.

$TNX D1  $TNX D2  $TNX D3