We can see the formation of the head and shoulders pattern on the daily timeframe, first of all we look for a break of the neckline at the 100 % fib before forming the right shoulder. This confirms a lower low has occurred increasing the chances of a downward trend occurring.
We would then look to enter 2 positions both with a target of 1:2 R:R.
The first position would be taken at the top of the right shoulder 50% with SL at 0 % fib. Take profit of full or partial position should be as shown.
The second position we would look to enter at at break of the 100% fib with Sl at 50% fib .Take profit of full or partial position should be as shown.
Not financial advice.
We would then look to enter 2 positions both with a target of 1:2 R:R.
The first position would be taken at the top of the right shoulder 50% with SL at 0 % fib. Take profit of full or partial position should be as shown.
The second position we would look to enter at at break of the 100% fib with Sl at 50% fib .Take profit of full or partial position should be as shown.
Not financial advice.
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.