Head and Shoulders pattern identified, so short established at 2048 at uptrend breach fri 5th may.
price annoyingly breached resistance at 2020 so had to hedge orders back up to 2046. further shorts were added from 2040.
im expecting the price to reach at least between 1984-1987 area although i do think it may well over shoot before a pull back from that target area. if the price pulls back and PA indicates a down move, i may add shorts to target 1975-1978 area but will have to see how things pan out
price annoyingly breached resistance at 2020 so had to hedge orders back up to 2046. further shorts were added from 2040.
im expecting the price to reach at least between 1984-1987 area although i do think it may well over shoot before a pull back from that target area. if the price pulls back and PA indicates a down move, i may add shorts to target 1975-1978 area but will have to see how things pan out
Trade closed: target reached:
target reached, closed half at 1987 and the rest at 86.8