As I'm short currently, this is just a paper trade and a public prediction for me to later see how that played out.
I've just spotted a head and shoulders whose target reaches the 1D support line. The slope of the neckline is rising so it might not be so reliable.
There is also a hidden bearish divergence with the MACD which signals a continuation of the downtrend.
Disclaimer: I'm just a beginner in trading. This is why that is obviously not financial advice.
I've just spotted a head and shoulders whose target reaches the 1D support line. The slope of the neckline is rising so it might not be so reliable.
There is also a hidden bearish divergence with the MACD which signals a continuation of the downtrend.
Disclaimer: I'm just a beginner in trading. This is why that is obviously not financial advice.
Trade closed: stop reached:
Looks like I couldn't be further from the truth. I should have added the precondition that the right shoulder needed to be finished with a nice up and downswing. But that never happened.
Comment:
I'll simply place the short tool entry below the right shoulder the next time.