Hello guys!
The price has broken through the last resistance level and is currently forming a Head and Shoulders (H&S) pattern. At this stage, it's unclear whether we’re seeing a reversal H&S or a continuation H&S. Here’s how to play it:
1️⃣ If the neckline breaks upwards, consider going long with a target toward the pink resistance zone. This area is key for shorts, so be prepared to flip your position here!
2️⃣ If the neckline holds as resistance, look for short opportunities targeting:
💡 My strategy:
Open half your short position now. If price moves toward the pink zone, add more shorts there for a stronger position.
⚠️ Caution: Always keep an eye on the neckline, it will determine whether we go bullish or bearish from here!
The price has broken through the last resistance level and is currently forming a Head and Shoulders (H&S) pattern. At this stage, it's unclear whether we’re seeing a reversal H&S or a continuation H&S. Here’s how to play it:
1️⃣ If the neckline breaks upwards, consider going long with a target toward the pink resistance zone. This area is key for shorts, so be prepared to flip your position here!
2️⃣ If the neckline holds as resistance, look for short opportunities targeting:
- $106,460
- $105,250
💡 My strategy:
Open half your short position now. If price moves toward the pink zone, add more shorts there for a stronger position.
⚠️ Caution: Always keep an eye on the neckline, it will determine whether we go bullish or bearish from here!
Trade active
#btc the neckline is broken!Trade closed: target reached
just the first scenario hit the targets
Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
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My recommended Exchange -> YEX: bit.ly/YEX-M
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Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
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My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Related publications
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.
Proud ThinkMarkets Ambassador -> Discover & Grow: bit.ly/Think-Markets
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
------
My recommended Exchange -> YEX: bit.ly/YEX-M
------
Telegram channel: t.me/melikatrader94
Forex channel: t.me/melikatrader94GoldForex
Related publications
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.