Reasons:
- Price is close to first target of previous H&Sh pattern, which also could be considered as a Rectangle.
- A double top price pattern could be formed (look for it)
Scenarios:
We go short if:
a - Price breaks down the small trend-line
b - Price reaches to exact target of H&sh
This is only how we interpret the market
- Price is close to first target of previous H&Sh pattern, which also could be considered as a Rectangle.
- A double top price pattern could be formed (look for it)
Scenarios:
We go short if:
a - Price breaks down the small trend-line
b - Price reaches to exact target of H&sh
This is only how we interpret the market
Note
The first target for Head & Shoulder pattern is met.Stop should be above 1.3220
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.
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.