Couple of days back I posted about this H&S on Inv-BNB-BTC.
This pattern is not only still valid but looking at current chart set-up it also started to look like perfect set-up for a juicy trade.
As seen in the chart, 60 EMA (yellow) on Daily has been holding price very nicely and today we see nice follow through, Daily Stocks now crossed up, and RSI has also found support on EMA while perfectly stable in the neutral (50) zone. This is a perfect bullish set up ready to break upwards.
Cautions:
1) Keep eye on today's close, if it closes below EMA60 (~0.00377) then this pattern could be invalidated.
2) BNB is still away from the neck line, so wait for next couple days to see how this pattern matures.
**Trading chart pattern before confirmed breakout is very risky**
Have a nice day. Chao..
This pattern is not only still valid but looking at current chart set-up it also started to look like perfect set-up for a juicy trade.
As seen in the chart, 60 EMA (yellow) on Daily has been holding price very nicely and today we see nice follow through, Daily Stocks now crossed up, and RSI has also found support on EMA while perfectly stable in the neutral (50) zone. This is a perfect bullish set up ready to break upwards.
Cautions:
1) Keep eye on today's close, if it closes below EMA60 (~0.00377) then this pattern could be invalidated.
2) BNB is still away from the neck line, so wait for next couple days to see how this pattern matures.
**Trading chart pattern before confirmed breakout is very risky**
Have a nice day. Chao..
Note
BNB-BTC testing the Inv-H&S neckline today. Keep a close eye on this one. We could see break out today or tomorrow.Note
This is the reason why no one should trade chart patterns before confirmed breakout. For me this pattern invalidated now.
*Lets move to next one*
Chao.. :)
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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.