Head & Shoulders - Binance
Here I have BNBUSD on the 1hr Chart showing what looks to be a completed Head and Shoulders pattern!!
With price having tested the "Neckline" three times after completion of both Shoulders and the Head!
I believe what we will see next is the Bearish Break of the Neckline to validate the reversal pattern and continue LOWER!!
**Chart Patterns are known to fail 1/3 of the times so BEWARE OF FALSE BREAKS!!
-Pattern Prediction-
*If price Breaks and Closes above 255.1, pattern INVALIDATED!
*If price Breaks and Closes below 244.7, price action will initiate my Trade Action Plan!
With price having tested the "Neckline" three times after completion of both Shoulders and the Head!
I believe what we will see next is the Bearish Break of the Neckline to validate the reversal pattern and continue LOWER!!
**Chart Patterns are known to fail 1/3 of the times so BEWARE OF FALSE BREAKS!!
-Pattern Prediction-
*If price Breaks and Closes above 255.1, pattern INVALIDATED!
*If price Breaks and Closes below 244.7, price action will initiate my Trade Action Plan!
Note
We're falling back towards the Neckline!!
"An investment in knowledge will pay the best interest." - B. Franklin
Novi's Trading Channel
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
"An investment in knowledge will pay the best interest." - B. Franklin
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.