Simple Head and Shoulders idea. No complication here. Given the Link run last few days, RSI is starting to cool down. 0.618 looks likely and a move up there will start to confirm the right shoulder. Lets see how this plays out over the next several 1hr candles.
Note
Swing/scalp longs will yield gains on the down trend. Irrespective of these volatility moves (given the extraordinary run up), ceiling is at 1.3472. Only a breach above on candle close will invalidate the H&S idea.Trade closed manually
Short Trade Closed. Far too bullish as 1.3472 breached. Lot of patterns on LTF to trade both Longs and Shorts. This kind of volatility is traders' dream.
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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.