A head and shoulders formation on the H4 and H1 charts has formed. Looking for a confirmation signal of a continued downtrend in the form of a lower low lower close candle in the red kill zone. Targets set at a re-test of the previous low and a fib retracement used to determine a minimum of 1:1 risk reward.
Trade closed: target reached
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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.