Beautiful formation of head and shoulder pattern spotted on ethusd daily time frame chart with nick line at 157usd once it is broken just place a short trade the maximum target should be 137usd check the behavior of ethusd at 144usd if we saw any trend reversal signal like doji or bullish engulfing candle than get out of the market at 144usd in didn't found any reversal candle than our should be 137usd...
the height of head and shoulder pattern is 15% from the nick line to the head so on base of that our final target should be 137usd make sure check the behavior of market at 144usd on base of that move to 137 target
also the MACD and RSI are bearish which confirm a down movement on ethusd 200EMA is acting a strong resistance we are at 50EMA which will be broke soon and move towards 100EMA
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the height of head and shoulder pattern is 15% from the nick line to the head so on base of that our final target should be 137usd make sure check the behavior of market at 144usd on base of that move to 137 target
also the MACD and RSI are bearish which confirm a down movement on ethusd 200EMA is acting a strong resistance we are at 50EMA which will be broke soon and move towards 100EMA
IF you like the idea kindly like if you have any recommendation leave a comment
