MKR inverse HEAD AND SHOULDER ?OK A GAMBLE FOR THIS ONE...
At first i didn't had the need to post this one, but hey if i'm wrong its a lesson as well.
Ok MAKER in overall this month has a pretty nice market going on, i bet that a good swing trader had some great scoring on this one.
what cought my eye is this inverse head and shoulder pattern, and because it needs to touch the support line which forms a triangle on the Daily chart i was thinking ok this has to go up and this pattern could be it to make it happen.
im not that good at entry point on this one and where to set stop-loss.
so i put the entry point on the neckline with a stop loss on the top of the shoulder.
profit level is calculated based on head towards neckline but if it needs to bounce the resistance line of the triangle on the daily it will not go thru that line.
if it does it will be an early break out.
again normally i post this kind of analyse for personal use but perhaps i get some feedback on this and learn something out of this.
well be free to share ur thoughts
