USDCAD Inverse Head and Shoulders Top (SHORT)
DAILY/4HR Inverse Head and Shoulders Top formed.
(Head and shoulders top after a
bearish move, signalling continuation.)
Right shoulder formed, and crossed neckline,
meaning we missed the breakout entry, however,
since I have a strong enough CTS score I am looking
for a pullback final chance entry.
CTS Scored as follows -
Neckline Break - 1 Point
Left shoulder at Minor Structure (3+ Tests on LTF 1HR) - 1 Point
Left shoulder at Major Structure (3+Tests on HTF 1D) - 2 Points
Fibonacci Levels present, (Price finding resistance and support at .786 retracement of left shoulder) - 1 Point
I am looking for a pullback into the 1.35350 zone
at the neckline and for price to print either a
LLLC, High test candle or Doji on the 1HR
timeframe to signal me to enter at next bar market.
Targets at 1.618 extension of head to neckline,
also lining up with Equal measured moves and
structure looking left.
Stops at an ATR above the right shoulder.
(Head and shoulders top after a
bearish move, signalling continuation.)
Right shoulder formed, and crossed neckline,
meaning we missed the breakout entry, however,
since I have a strong enough CTS score I am looking
for a pullback final chance entry.
CTS Scored as follows -
Neckline Break - 1 Point
Left shoulder at Minor Structure (3+ Tests on LTF 1HR) - 1 Point
Left shoulder at Major Structure (3+Tests on HTF 1D) - 2 Points
Fibonacci Levels present, (Price finding resistance and support at .786 retracement of left shoulder) - 1 Point
I am looking for a pullback into the 1.35350 zone
at the neckline and for price to print either a
LLLC, High test candle or Doji on the 1HR
timeframe to signal me to enter at next bar market.
Targets at 1.618 extension of head to neckline,
also lining up with Equal measured moves and
structure looking left.
Stops at an ATR above the right shoulder.