Trend: Bullish (ranging on 1hr)
Structure: Head and Shoulders with Bearish Divergence on the MACD
wedge play also possible
Plan:
We identify a head and shoulders pattern on the 4hr timeframe, however this could also be seen as a wedge.
However taking the head and shoulders we have extra confirmation by bearish divergence on the MACD
ideally we would wait until neckline has been broken before entering the trade
Structure: Head and Shoulders with Bearish Divergence on the MACD
wedge play also possible
Plan:
We identify a head and shoulders pattern on the 4hr timeframe, however this could also be seen as a wedge.
However taking the head and shoulders we have extra confirmation by bearish divergence on the MACD
ideally we would wait until neckline has been broken before entering the trade
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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.