Short
Short on emerging pattern recognition
Multiple setups on this trade
1. Price action pin bar confirmation shows short term continuation of the downward trend, previous structure lower low has come in contact which is also 38.2% fib level.
2. longer term Head shoulder pattern is emerging which is also pointing downwards.
Trading plan
1. Trade at open
2. With stop loss to be set at 50% fib levels
3. 1st target as the previous structure low also a support from earlier consolidation
4. 2nd target to aim previous low which would confirm the emergence of the head and shoulder pattern.
Good luck! Stay disciplined, else the market will discipline you!
1. Price action pin bar confirmation shows short term continuation of the downward trend, previous structure lower low has come in contact which is also 38.2% fib level.
2. longer term Head shoulder pattern is emerging which is also pointing downwards.
Trading plan
1. Trade at open
2. With stop loss to be set at 50% fib levels
3. 1st target as the previous structure low also a support from earlier consolidation
4. 2nd target to aim previous low which would confirm the emergence of the head and shoulder pattern.
Good luck! Stay disciplined, else the market will discipline you!
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.