Head & shoulders pattern forming on Bitcoin.
There is a demand zone shaded in blue that is acting as the last support. I'm expecting this to break, and break well with volume. A sloping neckline always performs better!
Volume is also decreasing on the right shoulder. All signs of a downward breakout.
Target is the green line, stops above red line once the neckline breaks.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
There is a demand zone shaded in blue that is acting as the last support. I'm expecting this to break, and break well with volume. A sloping neckline always performs better!
Volume is also decreasing on the right shoulder. All signs of a downward breakout.
Target is the green line, stops above red line once the neckline breaks.
Please give this trade idea a THUMBS UP and I will keep you updated!
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active:
Here we go. Orders filling
Comment:
Lower low.
Trade active:
Adding more to short position on a break of the bear flag pole:
Trade active:
Didn't get the bear flag break. Manage risk as we are seeing a pull back now which hurts the H&S performance to target.
Trade active:
Reducing risk and moving stops to BE
Trade active:
Taking partial profits is a good idea
Trade active:
Majority of position closed, banking profits
Trade closed: target reached:
Wow pin point target reached!!
