THETA looking like it wants to rekt early H&S shorters / pattern traders who don't know what they're doing. Just above support and trendline, already hit the 0.618 of the move from 4300s to 6700s, about to make a higher low. Conservative / safer entry would be to wait for a break and close above 5520s.
Note
Trade entered though I didn't handle it particularly well. Should have entered half size before the S/R flip and also should have sold half at the FTA as THETA retraced to support.Note
Idea could still be valid with a reclaim but given this rejection and the state of the USD pair I'm expecting further downside.
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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.