Long

Bullish pattern Shoulder Head Shoulder 1h

Updated

After a hard downtren a pattern SHS on the timeframe of 1 hour has been created. The price has already bounced on the neckline finding support which is something that confirm the pattern. It is expected that with this patter a trend reversal happens. At least the price will raise up the same amount of price between the head and the neckline.

Note

This is the big brother of the patter formed at 30 minutes timeframe I've published yesterda. Clearly the market has a fractal structure. The whole structure is replicated on each single part of the chart in small scale and also the other way around, the small structure can be replicated at a mayor scale.

Trade active

Second bouncing on the neckline. Still waiting for an uptrend.

Trade active

The price has started to go up after several bouncing on the neckline. The chatting pattern theory say that we should expect an increase of the price until 12000 which is the target of this figure. To calculate the target 12000 you have to sum the different in price between the head and the necklike on top of the neckline. In this case is 2250. So 9750+2250 gives 12000 EUR.

Trade closed manually

The streght of the uptrend has reached to its end. It's likely that the target won't be reached. This pattern hasn't anymore valitation so its better to close this trade and way what the market will do

rcolomina

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