Morning folks,
3-Drive setup has worked perfectly, now we're at the top of right arm. This is our potential H&S pattern. If it works - we're going to 9.1-9.2, next K-support area. If not - 11K our next destination point.
How is to trade it...
Well I would suggest using of Stop "Buy" order to bulls. Because we do not know whether H&S will work or not. And using Stop entry order should safe us from negative situation. It would be better to place it slightly below the top of the Head.
For the bears... well, market stands at the right arm and this is the point for decision making. If you have bearish view, you could try to sell, but as higher market moves to the top of the head as less chances on H&S success. With bearish scenario market has to turn down right here, immediately. If it climbs higher then something is wrong.
3-Drive setup has worked perfectly, now we're at the top of right arm. This is our potential H&S pattern. If it works - we're going to 9.1-9.2, next K-support area. If not - 11K our next destination point.
How is to trade it...
Well I would suggest using of Stop "Buy" order to bulls. Because we do not know whether H&S will work or not. And using Stop entry order should safe us from negative situation. It would be better to place it slightly below the top of the Head.
For the bears... well, market stands at the right arm and this is the point for decision making. If you have bearish view, you could try to sell, but as higher market moves to the top of the head as less chances on H&S success. With bearish scenario market has to turn down right here, immediately. If it climbs higher then something is wrong.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.