What we thought was a potential Head and Shoulders Pattern may in fact turn out to be a Double Top instead.
We have a lot of the same targets and analysis at the Head & Shoulders we believed was setting up.
We got a rejection of price at the at 0.98360, this chart will come to the forefront of our mid-term strategies as we will then be looking for a retracement back to the NECKLINE at 0.97100. If we break support at the neckline, we will look to go SHORT with 3 targets.
ENTRY
Just below 0.97100
STOP
0.98400
TARGETS
0.96580
0.96075
0.95700
Published 10/18/17
We have a lot of the same targets and analysis at the Head & Shoulders we believed was setting up.
We got a rejection of price at the at 0.98360, this chart will come to the forefront of our mid-term strategies as we will then be looking for a retracement back to the NECKLINE at 0.97100. If we break support at the neckline, we will look to go SHORT with 3 targets.
ENTRY
Just below 0.97100
STOP
0.98400
TARGETS
0.96580
0.96075
0.95700
Published 10/18/17
Order cancelled
With news of the US tax bill and such, this trade set-up had become negated with the break of the tops.
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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.