Strong head and shoulders forming on the D1 chart. Sell limits would be the best way to trade this setup. The blue horizontal line signifies a strong area of resistance and acts as a "sell wall" where banks , institutions and financial whales place their orders. Potential 400-500 pip take profit can be realized. Break above the H&S neckline (highlighted with the yellow eclipse) will make this trade invalid. Happy trading!
Commentaire:
Currently sitting in 200 pips of profit.
Commentaire:
Also excuse the typo on this markup, this is NOT a H&S. I was referring to the neckline of the double top formed.