Scenario 1: Upside break of trading range and retest, buy. Scenario 2: Downside break of trading range and retest, sell.
Looks like a possible scenario, forming the head and right shoulder with target landing easily on the trend line. Opportunities on marked areas
Looking at past price actions in this 2 year long trading range, it's a possible opportunity. Either price rockets up to red zone, we see a stoch crossover and SELL. or it might drop now and you can SELL the pullback.
Depends on PA at orange box, looks like a good launching pad. (;
2 SCENARIOS. LOOK AT PRICE ACTION ON MARKED AREAS. (:
Possible H&S right shoulder forming targeting blue price level. Sell only if u see reversal around right shoulder (red rectangle).
Look for bullish PA at marked reversal area. Green is retest of sideway resistance, Red is retracement of 50% of sideway range
Clear on chart. Based on recent structure
Looks like a good setup if good price action (hammer, rejections, support) found in the orange box
Looks like a good corrective trade to target 61.8% at 1.0777. Pay attention to orange box for PA. Move SL to BE when price is in orange box
Price is currently at neckline of possible H&S. I am currently looking for selling signal here to target 1.055 and buy from there if PA is positive. Otherwise we'll see a slie down to parity?
BUY STOPS AND SELL STOPS TRADE SETUP WITH TARGET MARKED.