BATUSDT 4H Short setup after breakdown of Head & Shoulders
Updated
TA Explained
BATUSDT had a great impulse last week. It pushed out of the channel but came back into it. We can see a Head and Shoulders pattern now which broke down. The pullback of the last downward move can be a pullback before further downside movement.
Taking the price range from the head to the neckline and moving that from the neckline down the target could even be lower. But Im using a bit more conservative targets here.
Trade setup
Best entries: 0.2609 - 0.2570
TP1: 0.2561
TP2: 0.2486
TP3: 0.2352
SL: 0.2670
RR: 2.97
Max leverage: 7x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
BATUSDT had a great impulse last week. It pushed out of the channel but came back into it. We can see a Head and Shoulders pattern now which broke down. The pullback of the last downward move can be a pullback before further downside movement.
Taking the price range from the head to the neckline and moving that from the neckline down the target could even be lower. But Im using a bit more conservative targets here.
Trade setup
Best entries: 0.2609 - 0.2570
TP1: 0.2561
TP2: 0.2486
TP3: 0.2352
SL: 0.2670
RR: 2.97
Max leverage: 7x
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
Trade closed: target reached
Two targets were reached. Remainder of position closed manually. Just opened a new long positions see related ideas.
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.