If the 2 bearish candles didn't appear before the market close, the Head and Shoulders formation is an almost perfect setup.
Now we need to have the awareness that the Bullish Shark Pattern may form and that will weaken the Shark Pattern.
At this moment it is still too early to make any decision, it will be critical when the candle break and close below Point B.
2nd Target for the Head and Shoulders is at a Risk-Free setup. In fact, the stop-loss has locked 16pips of profit and that is the Worst Case Scenario for this trade. The Best Case Scenario will bring you a 217pips(approx. 2,170USD/lot) potential.
Now, that's why Patience is Virtue!
Now we need to have the awareness that the Bullish Shark Pattern may form and that will weaken the Shark Pattern.
At this moment it is still too early to make any decision, it will be critical when the candle break and close below Point B.
2nd Target for the Head and Shoulders is at a Risk-Free setup. In fact, the stop-loss has locked 16pips of profit and that is the Worst Case Scenario for this trade. The Best Case Scenario will bring you a 217pips(approx. 2,170USD/lot) potential.
Now, that's why Patience is Virtue!
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Disclaimer
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🕒 15mins workday for Young Parents
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
🏦 Qualify Junior Analyst within 90days
🎤 Keynote Speaker
Get into our 15mins workday community
discord.gg/AKDr9vPqH7
Live session & Trading Tips on the GO
instagram.com/raynlim/
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.