Possible Price Reversal with 2 possible entries
We have the following factors:
If all the above are met we have 2 possible entries:
1. If price pullback in between 61.8 and 38.2 Fib levels (orange rectangle with red borderline) + a Good PA confirmation -Pin bar(s) or bearish engulfing candle-. This would be the top right shoulder of the H&S pattern.
2. If price breakout of the H&S Neckline and pullback to the same fib levels as above + Good PA confirmation.
*If the above are not met I wouldn't advice on taking this trade. Considering we are still on a ascending trend until market shows otherwise.
** You may search for additional entries on lower timeframes in case it confirms.
All comments are appreciated.
- Possible H&S pattern at monthly resistance (pink horizontal line)
- Daily Divergence
- Daily uptrend breakout (orange diagonal)
If all the above are met we have 2 possible entries:
1. If price pullback in between 61.8 and 38.2 Fib levels (orange rectangle with red borderline) + a Good PA confirmation -Pin bar(s) or bearish engulfing candle-. This would be the top right shoulder of the H&S pattern.
2. If price breakout of the H&S Neckline and pullback to the same fib levels as above + Good PA confirmation.
*If the above are not met I wouldn't advice on taking this trade. Considering we are still on a ascending trend until market shows otherwise.
** You may search for additional entries on lower timeframes in case it confirms.
All comments are appreciated.
Nota
Right shoulder end up being a bit short, but we should have clear re-entries a long the way..or just hold up for the next opportunity on the pullback.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.