Another H&S !
Updated
we have 3 support structures here:
1- long term support line (sky blue)
2- basic support line (yellow)
3- 38% retrace line
we will watch how the price will react to that level (around 9500-9600) if it break down then we will be forming the last correction leg (E) in the major (ABCDE) correction
1- long term support line (sky blue)
2- basic support line (yellow)
3- 38% retrace line
we will watch how the price will react to that level (around 9500-9600) if it break down then we will be forming the last correction leg (E) in the major (ABCDE) correction
Comment
we have a volume confirmation of the H&S, the price reached a critical area so let's see what happens Comment
the big picture Comment
If we break below 9390 (the sky blue long term trend line) then 100% guarantee we are goig down to complete the E waveComment
-just broke the long term trend line (sky blue) at 9390 level as i said
- if we close below it then the H&E will be confirmed and will fall to 9150
Target 1: 9150
Target 2: 8090
Target 3: 4660
Comment
NOTE: Weekly candle is Bearish , and it will close today which signals most likely a bearish weekComment
- heavy support at this level
- waiting for the triangle to break
- double top as displayed
Order cancelled
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