Price action and chart pattern trading setup
> Elliott wave projection downtrend breakout with inverse head & shoulders pattern
> A possible wave B rebound targeting 0.382 - 0.5 retracement of A
> Entry @ H&S breakout SMA25W
> Target @ 0.382 retracement of Wave A / SMA50W zone +25%
> Stoploss @ right shoulder / SMA400W -12%
> Risk reward ratio: 2:1
Indicator:
> RSI Week bullish divergence, breakout MA line
> MACD Week golden cross below baseline
Always trade with affordable risk and respect your stoploss
> Elliott wave projection downtrend breakout with inverse head & shoulders pattern
> A possible wave B rebound targeting 0.382 - 0.5 retracement of A
> Entry @ H&S breakout SMA25W
> Target @ 0.382 retracement of Wave A / SMA50W zone +25%
> Stoploss @ right shoulder / SMA400W -12%
> Risk reward ratio: 2:1
Indicator:
> RSI Week bullish divergence, breakout MA line
> MACD Week golden cross below baseline
Always trade with affordable risk and respect your stoploss
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.
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.