As shown here there is a clear head and shoulders pattern which is highly likely to fall down to the 111 level.
The profit target for this short is calculated by measuring the height of the top of the "Head" to the "Neckline", displayed by the white line, and taking this distance from the top of the right shoulder.
I found that usually this profit level will be reached during head and shoulders formations. The normal place people will target will be the height of the head taken from the "break point", however this much of an extension is much less frequent.
Any price above the neckline is a good entry, but the close the entry to the top of the right shoulder the better.
# Not Financial Advice
The profit target for this short is calculated by measuring the height of the top of the "Head" to the "Neckline", displayed by the white line, and taking this distance from the top of the right shoulder.
I found that usually this profit level will be reached during head and shoulders formations. The normal place people will target will be the height of the head taken from the "break point", however this much of an extension is much less frequent.
Any price above the neckline is a good entry, but the close the entry to the top of the right shoulder the better.
# Not Financial Advice