Long
MATIC | RIGHT SHOULDER ?
Bias : LONG
Rationale:
Price action is moving in Head & Shoulder Pattern with the first pattern completed and after that it started formation of another Head & Shoulder Pattern (a smaller one). In the second H&S, Right shoulder seems to be in the making so idea is to take long position with SL placed below the support level. Target is set at the top of right shoulder which happens to be resistance level as well.
Rationale:
Price action is moving in Head & Shoulder Pattern with the first pattern completed and after that it started formation of another Head & Shoulder Pattern (a smaller one). In the second H&S, Right shoulder seems to be in the making so idea is to take long position with SL placed below the support level. Target is set at the top of right shoulder which happens to be resistance level as well.
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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.