head and shoulders pattern in rising channel
Updated
hey traders,
though we have recently seen a bullish breakout of 54.0 level,
and technically the market has violated a bearish trend,
we have a nice potential selling opportunity to trade.
We see a nice rising parallel channel and a head and shoulders pattern formation.
The violation of a neckline will also be a violation of this rising channel.
So for us it is a very good counter trend opportunity to trade.
However, remember. The appearance of the pattern itself does not predict the market movement,
we are looking for a bearish breakout.
your target will be based on structure,
stop above head
good luck!
Trade active
bearish violationNote
Again market is going to a necklineNote
Going downNote
Small pullback
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