We can see the pattern has been broken and a retest of the breakout on the Daily TF is probable.
On the 4H timeframe we can expect a push down if the head and shoulder pattern is confirmed with further break down and then retest of the breakout. At that point we'd be looking to pick up and enter a short position
On the 4H timeframe we can expect a push down if the head and shoulder pattern is confirmed with further break down and then retest of the breakout. At that point we'd be looking to pick up and enter a short position
Note
Waiting for retest of broken zone above.Trade active
Entered early, firm rejection on 15 minute time frameNote
Setting STOP TO Breakeven and closing a third of the position for profits.Trade active
Came back and hit stop but can see rejection, going for a re-entry and risking previous earnt profitsNote
Closing 50% of the position and setting Stop to BE
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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.