UCAD 8H S Idea 4/20/24

Looking for the 8H H&S to complete with price dropping at least to the daily 50% FIB level. This is also the 8H high from 4/5/24.

This area is:
-the Monthly bullish .382 FIB level
-the Previous month high
-the Weekly level of 4/7/24
-the 8H 4/5/24 High

Price will either:
-break and retest at this area to continue bearish
-price can reverse in this area to continue back bullish

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BUT price could very well continue bullish at market open as well.

We'll have to wait and see what the market decides to do from here



**This is for educational purposes only and this is not financial advice because I am not a financial advisor.**

Trade active:

Price is currently moving sideways on the 8H as I make this current post, BUT I've forgotten to update this timeline with my entries that I've caught on the sell. I do apologize for anyone that was following and waiting. Here's my 1:6.11RR from a 5m Evening Star off the 5m 50% FIB area.
I've also caught a:
1:9.6RR off my initial entry into the trade
1:7.5RR with a 5m BR&C on a 15m low
1:9.5RR with a 1m BR&C off a 1m low
1:3.9RR with a 1H Inverted Hammer off a 1H 38.2% FIB
1:6.3RR with a 1m Evening Star off a 5m 50% FIB
1:26.9RR with a 15m BR&C on a 30m low
1:2.6RR with a 15/30m BR&C on a 30m low
1:.91RR with a 4H BR&C on a 4H low

Comment:

1:19.9RR completed

Comment:

1:8.5RR completed

Trade active:

1:16.6RR completed
Currently in the 1H Inverted Hammer off the 1H trendline + 1H 61.8% bounce

Comment:

1:20RR with a 1:9RR inside it
Trade the structure inside the structure as well. Thanks Jessica Laine

Trade closed: target reached:

The 8H has had a break of structure. Therefore I am now looking for buys instead of sells. Happy trading