NEO H&S / 4hr chart / shorting idea

17 août 2017

We see that a H&S pattern is forming in the 4hr chart. RSI confirms price reversal. We can open short positions. Profit target will be identical to distance top of the head with the neckline (36.3%), which makes the profit target 520k.

Stop loss should be put to previous resistance levels.

17 août 2017

Note

One can trade such an opportunity aggressively by shorting directly from the neckline till target 520k is reached.

Or a conservative way could be to wait if uptrend line 1 will be broken, profit target could be 520k.

Uptrend line 2 may offer support.