PTTGC | Wave Projection | Complex Inversed Head&Shoulders
Updated
Price action and chart pattern trading setup
> Global pattern bullish complex inversed head & shoulders pattern breakout
> Local bull flag breakout EMA200 dynamic resistance with strong bullish candle - a possible ABC bullish wave targeting new wave 1
> Support pullback entry level : EMA200 zone
> Target 2X bull flag pattern @ 0.786 - 1.272 fibonanci extension +15% upside
> Stoploss @ lower bull flag support B wave zone -7%
> Risk reward ratio: 2:1
Always trade with affordable risk and respect your stoploss
> Global pattern bullish complex inversed head & shoulders pattern breakout
> Local bull flag breakout EMA200 dynamic resistance with strong bullish candle - a possible ABC bullish wave targeting new wave 1
> Support pullback entry level : EMA200 zone
> Target 2X bull flag pattern @ 0.786 - 1.272 fibonanci extension +15% upside
> Stoploss @ lower bull flag support B wave zone -7%
> Risk reward ratio: 2:1
Always trade with affordable risk and respect your stoploss
Trade closed: target reached
Hit the first target - the overall correction pattern seems to be a complex 5 wave down or wxyz 3 set of ABC diagonal correction
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.