Hi everyone
To see how the price has been supported by the dynamic trend line (orange)
here I shared 12H chart. so as you can see this is a very important trend line
and price bounced upward from this line after hitting several times .
......................................................
now on 4H chart if you look, the price is forming a bullish H&S.
So... for that purpose we need to see price drop to shape our right shoulder
and visit the support trend line one more time.
if and only if this scenario validate we can expect an upward pressure.
the long position only validate by the time the neck line of H&S break upward.
other support and resistant levels are on the chart.
Enjoy the market
To see how the price has been supported by the dynamic trend line (orange)
here I shared 12H chart. so as you can see this is a very important trend line
and price bounced upward from this line after hitting several times .
......................................................
now on 4H chart if you look, the price is forming a bullish H&S.
So... for that purpose we need to see price drop to shape our right shoulder
and visit the support trend line one more time.
if and only if this scenario validate we can expect an upward pressure.
the long position only validate by the time the neck line of H&S break upward.
other support and resistant levels are on the chart.
Enjoy the market
Trade active
neck line of H&S is our keyprice close above the neck line has chance for upward pressure to our targets.
Trade active
exactly moved as expected.Trade active
retesting the neckline is logic butif the price closed below our neckline should be cautious more.
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Related publications
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.