BNB Head and Shoulders

Updated
*logarithmic scale*
Binance Coin broke the uptrendline, formed Head and Shoulders🤷 pattern and price just broke the Neckline recently. I think there is chance for drop to 166 (logarithmic scale target) and even to 116 (regular scale target - see below).
snapshot Setting SELL LIMIT order to neckline level to catch🎣 the potential pullback.
  • ENTRY: neckline @ 255
  • STOPLOSS (SL): Right Shoulder @ 317.8
  • TARGET (TP): H&S target projection @ 166 (logarithmic scale) | H&S target projection @ 116 (regular scale)
  • REWARD RISK RATIO (RRR): 1.44 | 2.24
  • INVALIDATION: when SL level hit

Trade active
Order filled ✔️
Trade closed: stop reached
Stoploss hit 🛑 (pattern invalidated).
Price chasing the uptrendline to backtest it?
snapshot
binancebinancecoinBNBBNBBUSDBNBETHBNBEURbnbusdBNBUSDCBNBUSDTChart PatternsTrend Analysis

a
Also on:

Related publications

Disclaimer