I thought at first ( just like majority) it was a head and shoulder pattern and it's trying to retest the neckline and then short momentum as it has broken the trendline
BUT! As i see more clearly it was forming huge falling wedge and it's a fake breakout (bear trap)
Now the target is the previous high
If you want to take long on this just wait for a pullback and go for it. I'm confident on this
BUT! As i see more clearly it was forming huge falling wedge and it's a fake breakout (bear trap)
Now the target is the previous high
If you want to take long on this just wait for a pullback and go for it. I'm confident on this
Trade closed: target reached
I stopped on 70 pips profit. Congrats all who followed!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.