IHC is a long term investment of mine. So, yeah this is a pretty good analysis of mine.
This is the best trade of the last week. Used my favorite market structure with my second favorite Fibonacci tools. Patience along with these tools could be lethal. I will obviously post my losing trades as well if one arises.
Fibonacci is used along with pivotal resistance. If we go to a 1hr timeframe, we can see head and shoulders pattern. The neckline is retesting the neckline in this timeframe.
Very simple Fibonacci usage on this trade with a decent RRR. Obviously, multiime frame analysis was implemented to follow the trend.
Using the Fibonacci tool with pivotal support is enough to make this highly probable trade . Less is more!