Could this be our drop to below 13k? If you plan to take this trade, wait for the break below the H&S's support!
Note
Get ready for a possible break! And I mean possible, it's worth losing a bit of profit to avoid falling for a bounce!Note
We had something similar come off IOTA a few days ago... A huge 60% rise, a H&S, and then a huge drop back down.Note
And we're off! Be careful of a false-break bounce at the 1.0 fib. Otherwise, we're set to go downwards!Note
Well, we made it halfway to our target before bouncing as predicted (not perfectly but eh). Be careful of a bull trap, I would not buy unless it bounces off our H&S resistance (or higher).Note
It seems it's developing a resistance above our main H&S resistance so this may be the end of this trade. It seems like it did bounce as I predicted it might and came back up. It's a lot harder to trade these bears in such a bullish market, so perhaps we need to be a lot more cautious with these bearish signs.
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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.