Possible RSHS
Hi traders,
The dashed line is minor uptrend for now. If the price bounces back from there, it may form a reverse Shoulder Head Shoulder.
If it does not bounces back, Then the horizontal level is also good place to take a position. My advice would be that if you take a position, you need to put your SL at most %2 below or above.
If the formation happen, btc side will probably reach its resistance. So, I expect that the price will not break out that grey area. That is why If I take a position, I am gonna close 75% of it at that area.
To be honest, I didnt like the volume. If the volume does not increase along the right neck, I may skip and wait for new chances.
Manage your risk, my friends.
Stay safe.
The dashed line is minor uptrend for now. If the price bounces back from there, it may form a reverse Shoulder Head Shoulder.
If it does not bounces back, Then the horizontal level is also good place to take a position. My advice would be that if you take a position, you need to put your SL at most %2 below or above.
If the formation happen, btc side will probably reach its resistance. So, I expect that the price will not break out that grey area. That is why If I take a position, I am gonna close 75% of it at that area.
To be honest, I didnt like the volume. If the volume does not increase along the right neck, I may skip and wait for new chances.
Manage your risk, my friends.
Stay safe.
Trade active
50% TP
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.