Possible Daily H&S - Swing Trade
Updated
We have the following:
CONS;
We haven't broken the long term up trend.
We are near to a good role reversal zone.
R&R not so good if we use a conservative SL place above the right shoulder.
Things to possibly watch for:
Good breakout of trendline and RR + pullback.
Wait for a good entry in H4 or H1.
- Head and Shoulder Pattern (Slanted Neckline)
- MACD and STOCH Divergence
- Engulfing bearish breakout from H&S
CONS;
We haven't broken the long term up trend.
We are near to a good role reversal zone.
R&R not so good if we use a conservative SL place above the right shoulder.
Things to possibly watch for:
Good breakout of trendline and RR + pullback.
Wait for a good entry in H4 or H1.
Trade active
You may take partials. We can expect either a pullback or a downtrend continuation. Wait for price action confirmation.Trade closed: target reached
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