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We might have a Head & Shoulders pattern. In case we have a rejection of Ichi Cloud resistance zone then we continue forming the right shoulder. Breakout of the Support Trendline will be a confirmation for the pattern and we can initiate a short position in this case.
Btw if the support trendline will be broken without Head & Shoulders fully formed we can also initiate a short position
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
We might have a Head & Shoulders pattern. In case we have a rejection of Ichi Cloud resistance zone then we continue forming the right shoulder. Breakout of the Support Trendline will be a confirmation for the pattern and we can initiate a short position in this case.
Btw if the support trendline will be broken without Head & Shoulders fully formed we can also initiate a short position
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.