H4 Chart zoom out
H4 Chart zoom in
17/7/19
- Potential reversal bullish D1 H&S pattern completion when price actually breaks out of the bottom.
- H4 H&S looking for the H4 right shoulder to form - down
H4 Chart zoom in
17/7/19
- Potential reversal bullish D1 H&S pattern completion when price actually breaks out of the bottom.
- H4 H&S looking for the H4 right shoulder to form - down
Breakeven positive.
Price rebounce at prev resistance instead of the prev support & did not hit TP1 target.
Observation:
1. Momentum uptrend stronger (D1 H&S, price did not retrace back at the H4 level.
2. Early indication at H1, candle price action - bullish reversal formation (morning star = doji + bullish candlebreaking the high of the doji).
3. H1,price broke the downtrend upper trendline, indicating bullish movement and confirmed when price breakout from prev resistance & candle close above.
Note: Being able to adjust according to price action when things does not goes according to your plan is different from NOT following your trading plan IF you can have good justification.