Short term H&S, volume not displayed on XBT chart but volume pattern is valid on XBTUSD chart. Pattern is messy and not ideal but still valid in my opinion. Hourly ADX<20 = potential trend stagnation and reversal. This makes sense for the return move of the H&S which is the ideal entry point.
Target 5% below at 1111; 0.618 fib retracement of recent rally; 0.236 level of retracement from 14500 to 0; 50% fib speed line
Target 5% below at 1111; 0.618 fib retracement of recent rally; 0.236 level of retracement from 14500 to 0; 50% fib speed line
Trade active
Stop Loss: 11883Target: 11117
Note
Volume pattern on XBTUSD chart for reference Trade closed: stop reached
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.
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.