BNB Inverse Head and Shoulder Pattern TP 1 White Line TP 2 Purple Line on top Price above 200 moving average
BYBIT:ETHUSDT.P forming an inverse head and shoulder patter still have some room for micro uptrend before forming the right shoulder as long as it didnt break the low of the head, im still bullish
Possible short entry area and stop loss conservative and aggressive stops.
Possible breakout may happen due to repeated knocking on the resistance. Shorting is still advisable compare to long as long as the lower high line didn't break.
3 tp area Tp 1 for reaching 1:3 risk reward ratio, You can book 70% of your profit to this area and move your stop loss on break even price. You can also take your whole profit here and then re-enter on entry area and take your profit again once hit your 1:3 rrr Tp 2 - tp 3 is for continuation of downtrend move. mostly, i take 90% of my profit on TP 1 and let it...
Downtrend continuation based on 4hr time frame, and unfilled OB on 15min