on 4H timeframe, We clearly see the head & shoulders is forming (bullish signal)
but we did see the rejection when price hit 11000
=> so we have to take a deeper look on 1H timeframe, and realize that another head & shoulders pattern is forming too, but this is the bearish signal. if 1h candle closes under the neckline, we have to sell and buy back maybe at 10000 or lower
but we did see the rejection when price hit 11000
=> so we have to take a deeper look on 1H timeframe, and realize that another head & shoulders pattern is forming too, but this is the bearish signal. if 1h candle closes under the neckline, we have to sell and buy back maybe at 10000 or lower
Trade closed: target reached
head & shoulders pattern confirmed & hit the support line
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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.