EthereumShort
ETHUSD COMPLEX HEAD&SHOULDERS BOTTOM
A complex head-and-shoulders bottom is a chart pattern that looks like an inverted head-and-shoulders but with multiple heads, multiple shoulders, or sometimes both. The break even failure rate is low and the performance is good from this chart pattern.
Price trend downward leading to the pattern.
Shape looks more like a head-and-shoulders bottom with multiple shoulders or multiple heads but rarely both.
The shoulders should bottom near the same price, be nearly the same distance from the head, and look similar to their mirror opposite.
The pattern confirms as a valid one when price closes above a down-sloping trendline or above the right armpit when the neckline slopes upward.
The performance of this pattern might be slow and a bit worst, because the neckline slopes upward. The most important part is that price should close above the neckline so as to confirm the breakout.
VERDICT:
BUY: $109.76
SELL: $111 up to $112.81
STOP LOSS: $107.4
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
Price trend downward leading to the pattern.
Shape looks more like a head-and-shoulders bottom with multiple shoulders or multiple heads but rarely both.
The shoulders should bottom near the same price, be nearly the same distance from the head, and look similar to their mirror opposite.
The pattern confirms as a valid one when price closes above a down-sloping trendline or above the right armpit when the neckline slopes upward.
The performance of this pattern might be slow and a bit worst, because the neckline slopes upward. The most important part is that price should close above the neckline so as to confirm the breakout.
VERDICT:
BUY: $109.76
SELL: $111 up to $112.81
STOP LOSS: $107.4
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.
Disclaimer
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