Failure to produce a higher high has created a head and shoulders and double top.(the head is slight higher via wick). A short opportunity is presented only when the neckline is broken. Target is the .382 fib. Look for break, retest and rejection(by neckline) of neckline before placing full position. MACD Stoch RSI confirm further down movement. EMA's about to cross down. Capital management and patience is recommended. Do not take the trade until neckline is broken, and do not place full position until retest.
Risk Reward ratio 4.0
Risk Reward ratio 4.0
Trade closed: target reached
congrats to everyone who participated in this trade
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.