Based on daily timeframe, we have a valid uptrend with previous resistance (left shoulder) turning into a temporary support after a short term long position above the resistance. A new High as been created forming an Head with a retest on the confirmed trendline, a second retest to the resistance with a temporary or false breakout above the resistance and a current sell of below the confirmed trendline is ONGOING which if a successful break occurs, we should anticipate a possible right shoulder completion, if this occurs, we should hold position till the SELL OFF reaches the bottom of the trendline.
Trade active
Hello Guys! We have seen that a confirmation of the Bearish Head and Shoulder has been confirmed, we are waiting for the retest to complete and a continuation.
Happy Trading!
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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.