Head and shoulders?
Updated
Totally new at this but I believe that a Head and shoulders pattern is appearing on the GRT 1hr time frame.
Please feel free to let me know what you think
also seeing bullish divergence on the 1 hr. time frame so I am longing the position now could be a good time to enter or wait on confirmation of the pattern
Side note waiting for core CPI numbers to come out tomorrow if there positive this could be the bottom of the 2nd leg of the Elliot wave and we could see some explosive action tomorrow. WARNING many people are predicting the numbers to be bad. if that's the case I see us falling to the 0.11 support before starting the 3rd leg. IMO
DYOR
Good Luck
Please feel free to let me know what you think
also seeing bullish divergence on the 1 hr. time frame so I am longing the position now could be a good time to enter or wait on confirmation of the pattern
Side note waiting for core CPI numbers to come out tomorrow if there positive this could be the bottom of the 2nd leg of the Elliot wave and we could see some explosive action tomorrow. WARNING many people are predicting the numbers to be bad. if that's the case I see us falling to the 0.11 support before starting the 3rd leg. IMO
DYOR
Good Luck
Trade closed: target reached
played it conservative and closed the trade just short of target :)Profits are in the bag.
I expect some minor pull back to the 0.16 area. will assess the situation after and come out with a new idea.
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.