Long
AION setting the foundations for a IH&S?
Im starting to see a really nice V bottom and an Inverse H&S building on AION at the moment, this swing imo is done so we should see a retracement here to build the right shoulder.
Looking at that right shoulder for an entry here, around 300-320.
will just walk the stops up as we come up to that neck line which to me looks like a supply zone thats already compromised, if we break we should get a descent impulse move to the next level of supply around 380 or so, thats where ill be looking for an exit for most of the position and let the rest run with stops in profit.
If it still looks good at this level i may buy back again on a small retrace, but thats something we need to wait and see.
Looking at that right shoulder for an entry here, around 300-320.
will just walk the stops up as we come up to that neck line which to me looks like a supply zone thats already compromised, if we break we should get a descent impulse move to the next level of supply around 380 or so, thats where ill be looking for an exit for most of the position and let the rest run with stops in profit.
If it still looks good at this level i may buy back again on a small retrace, but thats something we need to wait and see.
Order cancelled
Well we didn't get the retrace we where looking for originally as the neck line broke early smashing our first target and the next smaller supply target as well.Unfortunately we didn't get an entry for this trade, but thats ok we will let it settle down and have another crack.
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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.