ETHUSD: Head & Shoulders Pattern Confirmed. What's Next?
The price dropped below the neckline, and the trend reversal chart pattern was confirmed. What's next?
The market could not develop a downward movement. The price bounced from SMA100. We saw a new upward movement to the neckline. The price action in this zone will be important for the market. If the price bounces from the line, there will be a new attempt to break SMA100. The support zone at 153.00 will be a target for sellers.
If the price breaks the previous swing high and moves above the neckline, it will give us a bullish signal. We will be able to open long positions following this breakout. The 1st target for buyers will be 180.00 resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The market could not develop a downward movement. The price bounced from SMA100. We saw a new upward movement to the neckline. The price action in this zone will be important for the market. If the price bounces from the line, there will be a new attempt to break SMA100. The support zone at 153.00 will be a target for sellers.
If the price breaks the previous swing high and moves above the neckline, it will give us a bullish signal. We will be able to open long positions following this breakout. The 1st target for buyers will be 180.00 resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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