Head & Shoulders/ Libra Pattern forming.
I am short from .8525, more conservative traders can wait for a neckline break and close, or a break and retest (or 618 pullback) in order for confirmation that bears can take control of the market. Target is the green box structure zone.
I am short from .8525, more conservative traders can wait for a neckline break and close, or a break and retest (or 618 pullback) in order for confirmation that bears can take control of the market. Target is the green box structure zone.
Note
Analysis on the 1 hour. neckline already broken? will the flag have a downwards breakout?
Trade closed: stop reached
Good thing I moved my stop loss to just above the flag structure on the 1 hour. Stopped out about +15 pips
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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.