Matic formed a head and shoulder pattern
MATIC placed on the support. While it formed a head and shoulder pattern which causes the chart will see lower prices in short term, the chart created higher and higher bottoms in 1D timeframe which means the chart is collecting its power to break its ATH. Then, if the chart breaks its support with a strong candle, I will open a short position for its lower target till the chart shows me some evidence of reverse.
Trade closed: target reached
The chart reached to First target.My personal strategy for this situation is that I guarantee my profit by trailing system and wait until I see evidence of reverse.
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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.