Based on daily timeframe, we have a valid uptrend with previous resistance (left shoulder) turning into a temporary support after a short term long position above the resistance. A new High as been created forming an Head with a retest on the confirmed trendline, a second retest to the resistance with a temporary or false breakout above the resistance and a current sell of below the confirmed trendline is ONGOING which if a successful break occurs, we should anticipate a possible right shoulder completion, if this occurs, we should hold position till the SELL OFF reaches the bottom of the trendline.
Trade active:
Hello Guys!
We have seen that a confirmation of the Bearish Head and Shoulder has been confirmed, we are waiting for the retest to complete and a continuation.
Happy Trading!
We have seen that a confirmation of the Bearish Head and Shoulder has been confirmed, we are waiting for the retest to complete and a continuation.
Happy Trading!