Chart shows a study of recent AVAX movements with updated channel.
It is on the way to secure the H&S pattern target, but the midline acts as a strong resist for now. Upper channel price actions will be interesting.
Although not necessary, the pattern breakouts should usually show a volume breakout as well to confirm the trade. Right now the volume seems to be lower than the left shoulder, but this condition is just to confirm the trade, its not a must.
I expect the neckline of the pattern ($73) to act as a support with the channel bottom and $95 can be reached easily, with invalidation below the neckline of course, which will make the downside target area between $52-58 for a short opportunity.
As a trading strategy, I wouldn't jump in the coin at the moment but instead, buy the support, take profit at resists.
Stay safe!
It is on the way to secure the H&S pattern target, but the midline acts as a strong resist for now. Upper channel price actions will be interesting.
Although not necessary, the pattern breakouts should usually show a volume breakout as well to confirm the trade. Right now the volume seems to be lower than the left shoulder, but this condition is just to confirm the trade, its not a must.
I expect the neckline of the pattern ($73) to act as a support with the channel bottom and $95 can be reached easily, with invalidation below the neckline of course, which will make the downside target area between $52-58 for a short opportunity.
As a trading strategy, I wouldn't jump in the coin at the moment but instead, buy the support, take profit at resists.
Stay safe!
交易结束：到达目标
🎯 H&S target reached. For the ones who are still holding a position, follow the channel mid line as support, followed by the channel bottom if that one fails.Lock on the gains and move on!
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。