Hey trader,
As you can see the price is currently bullish running in the head and shoulder patterns accumulation phase, and above the 50 and bullish crossed short-term MAs. The pattern expects a 3-level uptrend, and the MAs expect a retest on the 200 MA (that's visible on the MT4 chart) as well as the short-term MA trend. This bias will be fully confirmed once the price has (1) bearish retested the 1H H&S Neckline and 8 MA with a bullish reversal candle pattern close, or after it has (2) bullish broke and retested the 4H Half a Bat Neckline. If it decides to bearish break and retests the 1st 4H Key Lvl together with the 50 and 21 MAs, our bias will be rejected.
With that in mind, do not take the trade because this is not financial advice. I'm just sharing my point of view. You also can do the same in the comments section below. I don't mind because I'd love to know your thoughts!
That's it for today. I hope you found value in this article. If you want to see more similar content, click the articles listed below.
Stay Profitable,
Sphatrades.
As you can see the price is currently bullish running in the head and shoulder patterns accumulation phase, and above the 50 and bullish crossed short-term MAs. The pattern expects a 3-level uptrend, and the MAs expect a retest on the 200 MA (that's visible on the MT4 chart) as well as the short-term MA trend. This bias will be fully confirmed once the price has (1) bearish retested the 1H H&S Neckline and 8 MA with a bullish reversal candle pattern close, or after it has (2) bullish broke and retested the 4H Half a Bat Neckline. If it decides to bearish break and retests the 1st 4H Key Lvl together with the 50 and 21 MAs, our bias will be rejected.
With that in mind, do not take the trade because this is not financial advice. I'm just sharing my point of view. You also can do the same in the comments section below. I don't mind because I'd love to know your thoughts!
That's it for today. I hope you found value in this article. If you want to see more similar content, click the articles listed below.
Stay Profitable,
Sphatrades.
