potential head & shoulders pattern in 4H timeframe
Updated
as you see in COMPUSDT chart, there is a good potential for price to form a reverse head and shoulders pattern which could cause more rise in the price.
so we have two strategy to do!
first: if you are a risky trader you can now open a long position but with the half amount of the money that you want to invest on this position and after a valid break in neckline and even better after completing its pullback you can rebuy and complete your position.
second: if you are a conservative trader you should just track the price and wait for the pattern to happen.
note: just be careful about the failure of pattern which always is possible and even more in these kind of situations.
so we have two strategy to do!
first: if you are a risky trader you can now open a long position but with the half amount of the money that you want to invest on this position and after a valid break in neckline and even better after completing its pullback you can rebuy and complete your position.
second: if you are a conservative trader you should just track the price and wait for the pattern to happen.
note: just be careful about the failure of pattern which always is possible and even more in these kind of situations.
Trade active
the neck line is broken and price is completing a pull back to the neck line.if you opened your position later you can now put your stop loss on your buy price to make your position risk free.
Trade active
in this challenging altcoins market that most of analysis are doomed to fail, fortunately this one is going its way! so we are waiting for our target to get touched. just do not forget to risk free your position!target: between 121 and 122
Trade closed: target reached
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