Inverted Head & Shoulders would confirm upon a daily close above the neckline at 1.90. When this happens, I would enter with an intial stop loss just below 1.80. Should the trade works out, I would scale out partially around 2.09 (possible horizontal resistence there) and protect with trailing stops to ride the rest to about 2.30 (Inv H&S target is at 2.35).
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Disclaimer: This is just my own analysis and opinion for discussion and is not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance. Thank you.
Note
Inverted H&S did not follow true. I am prepared to scratch this trade if it goes below 1.80 (61% fib retracement of the recent swing from 1.68 to 1.98 :(
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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.