🕰️ Timeframe: 4H
📈 Pattern: Inverse Head & Shoulders (Bullish Reversal Setup)
📍 Current Price: $1,518
📏 Neckline: ~$1,589 (marked in blue)
🧠 Pattern Structure:
Left Shoulder: ~$1,475
Head: ~$1,420
Right Shoulder: ~$1,470
Neckline: ~$1,589
Measured Target: Neckline to bottom = ~$1,589 - $1,420 = $169
→ Breakout Target = $1,589 + 169 = $1,758** — aligns [perfectly] with Fib 0.65 ($1,762)**
🧩 Confluence Factors:
🔹 Fibonacci 0.65 @ $1762 = Target zone of the pattern
🔹 Fibonacci 0.618 @ $1915 = Secondary resistance zone
🔹 Clean neckline retest idea → breakout & retest of $1589 = ideal entry trigger
🔹 RSI divergence (if any) & volume confirmation on breakout = final confidence boost
✅ Strategy Plan:
Entry Idea: Break & retest of $1589
Take-Profit: $1758–1766
Stop-Loss: Below right shoulder ($1465–1470 zone)
Risk/Reward: ~2.5R depending on entry accuracy
Probability: 65/35 bullish continuation if neckline breaks with strong volume
📈 Pattern: Inverse Head & Shoulders (Bullish Reversal Setup)
📍 Current Price: $1,518
📏 Neckline: ~$1,589 (marked in blue)
🧠 Pattern Structure:
Left Shoulder: ~$1,475
Head: ~$1,420
Right Shoulder: ~$1,470
Neckline: ~$1,589
Measured Target: Neckline to bottom = ~$1,589 - $1,420 = $169
→ Breakout Target = $1,589 + 169 = $1,758** — aligns [perfectly] with Fib 0.65 ($1,762)**
🧩 Confluence Factors:
🔹 Fibonacci 0.65 @ $1762 = Target zone of the pattern
🔹 Fibonacci 0.618 @ $1915 = Secondary resistance zone
🔹 Clean neckline retest idea → breakout & retest of $1589 = ideal entry trigger
🔹 RSI divergence (if any) & volume confirmation on breakout = final confidence boost
✅ Strategy Plan:
Entry Idea: Break & retest of $1589
Take-Profit: $1758–1766
Stop-Loss: Below right shoulder ($1465–1470 zone)
Risk/Reward: ~2.5R depending on entry accuracy
Probability: 65/35 bullish continuation if neckline breaks with strong volume
Trade active
Halfway thereTrade closed manually
50% closing right now, SL moved to break even.
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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.
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.