Hello Traders!,
We're at the beginning of our trading week and today I've realised a head and shoulder pattern I've been eyeing is finally complete and is almost time for an execution!
What Is The Market Telling Us?
We're at the beginning of our trading week and today I've realised a head and shoulder pattern I've been eyeing is finally complete and is almost time for an execution!
What Is The Market Telling Us?
- Price has been in uptrend and was halted once it reached resistance of @0.91505
- Head and shoulder pattern complete once price has shown a bearish closure upon the break and retest of neckline
- MAs show market sentiment is bearish as 50SMA is above 14EMA and a bearish crossover before
- As we are on a 4H timeframe we can look to enter once our neckline has been respected as a resistance level
- Execute on 1H timeframe after a clear bearish closure below our neckline, this closure confirms neckline being respected