BTC H1 - Potential Head and Shoulders - Short for BITSTAMP:BTCUSD by tomraistrick — TradingView

Support and Resistance Candlestick Analysis Head and Shoulders

supportandresistance candlestick headandshoulders

Potential H&S forming on BTC H1. Trade is open with a tight stop loss at $6,380 and current target of $6,300.

Comment:

Moved stop to $6,385.

Comment:

Looks like I jumped the gun a little on the H&S call. Keeping my short position open as BTC is bear flagging and RR ratio is good.

snapshot

Comment:

H&S back in play, just took a little longer than expected.

Comment:

Target hit. Took profit on 50% of position at $6,300 and exited trade entirely at $6265.

Final realised profit: (8.39%+14.04%)/2 = 11.2%

Comment:

Here's how the H&S eventually played out:

snapshot

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