A poorly constructed head and shoulders is also present on this bearish chart.
Stop loss - Just above 0.236 fib - confluent with resistance
Entry - Close below 0.382 fib and yellow rectangle
Take profit - Bottom of green rectangle (immediate support)
Over 1:3 Risk Reward on this trade.
Stop loss - Just above 0.236 fib - confluent with resistance
Entry - Close below 0.382 fib and yellow rectangle
Take profit - Bottom of green rectangle (immediate support)
Over 1:3 Risk Reward on this trade.
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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.