Hi august,

You make a very good observation. Inverse Head & Shoulder usually happens in a downtrend, as a bottoming signal. But not necessarily always. In my humble opinion, technical analysis patterns are high probability mass psychological setups. The IHS in question, as you rightly pointed out, is during an intermediate corrective phase, in the uptrend. Although we have no volume information to confirm the breakout, the price action is definitive so far. I suggest that the psychology in the setup is similar, even if it's named differently. :)

Thanks for pointing it out, and it is refreshing to engage in a technical discussion on this forum, for once. I look forward to learning more from you.