So, we have a standard Head and Shoulders pattern, and we are currently at the Right Shoulder, "almost" at the end of the pattern.
Price is currently inside a Box Area, containing many Supports and Resistances from a while ago.
In the RSI , at the current moment, price may be confirming a Trend-Line, right after a Bearish Divergence.
A Bearish Divergence is caused when the price chart creates a High, following by a Higher High. However, in a few certain indicators, the Higher High is actually at the first High - the one situated in the Chart. This is strong warning for a possible Downtrend.
The Fibonacci Retracement tells us that there can be a small retracement at 1.28756. Therefore, it is already to expect.
Our targets - both the Stop-Loss and Take-Profit, are situated a few before ROUND NUMBERS (and swings as well), just so we can protect our capital from Liquidity Hunters.
-
STOP-LOSS: 1.29940
RETRACEMENT IS AT 1.28756
TARGET: 1.28062
-
- John Wood
Have a Successful-Trading!
Price is currently inside a Box Area, containing many Supports and Resistances from a while ago.
In the RSI , at the current moment, price may be confirming a Trend-Line, right after a Bearish Divergence.
A Bearish Divergence is caused when the price chart creates a High, following by a Higher High. However, in a few certain indicators, the Higher High is actually at the first High - the one situated in the Chart. This is strong warning for a possible Downtrend.
The Fibonacci Retracement tells us that there can be a small retracement at 1.28756. Therefore, it is already to expect.
Our targets - both the Stop-Loss and Take-Profit, are situated a few before ROUND NUMBERS (and swings as well), just so we can protect our capital from Liquidity Hunters.
-
STOP-LOSS: 1.29940
RETRACEMENT IS AT 1.28756
TARGET: 1.28062
-
- John Wood
Have a Successful-Trading!
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.