BCH/USD H&S and a short?
Updated
Hello traders!!
I have taken a look in to BHC/USD again after we did a short from 1500$ to 1200$ and reached the first target!
Now as we saw in the previus post the actual target was 800$ but for that we must bounce back down here at 1275$ area and if don't we could break out of the channel!
I did comment on a previus post that if u are in a short position you need to take some profit at 1200$ and now if u are still in a trade the stop target is at 1340$. if we cross that on the upside u should close the trade!
Take notice that right now would be a perfect entry for the next short but we need to get some indication of a bear first! so wait couple hours or a day and this could be ready to drop to 800$ and we could make dubble bottom or even go further who knows?
Note: BCH is really similar to BTC at this point!
Note 2: The % from a neck line to the head is the same as from this point to 800$ area.
Slo_crypto
I have taken a look in to BHC/USD again after we did a short from 1500$ to 1200$ and reached the first target!
Now as we saw in the previus post the actual target was 800$ but for that we must bounce back down here at 1275$ area and if don't we could break out of the channel!
I did comment on a previus post that if u are in a short position you need to take some profit at 1200$ and now if u are still in a trade the stop target is at 1340$. if we cross that on the upside u should close the trade!
Take notice that right now would be a perfect entry for the next short but we need to get some indication of a bear first! so wait couple hours or a day and this could be ready to drop to 800$ and we could make dubble bottom or even go further who knows?
Note: BCH is really similar to BTC at this point!
Note 2: The % from a neck line to the head is the same as from this point to 800$ area.
Slo_crypto
Trade closed: stop reached
IH&S done so we are going long here!
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