HEAD&SHOULDER'S PATTERN TRADE IDEA FOR BTC - INVALIDATION ZONE
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Good afternoon folks, my perspective on price action is that we're possibly in the likelihood of painting the head and shoulder's pattern. (as long as 10245 - 10420 holds as a top) - THUS BEING SAID - The reason I'm only 50/50 on this playing out is because bulls have broke the historical resistance level of 10500. There's still a few days left on on the weekly candle to send this back below 10500, AS WELL as the monthly candle which ends at the end of this week as well. (wouldn't that just be something)
Remember to stick to your trading plan & the TA - don't give into the psychological games the markets play (the goal is to trap you into believing a false narrative being painted)
Be safe - Weekly & Monthly close at the end of this week. (VERY IMPORTANT WEEK)
Smash that like button.
👍👍👍👍👍
Remember to stick to your trading plan & the TA - don't give into the psychological games the markets play (the goal is to trap you into believing a false narrative being painted)
Be safe - Weekly & Monthly close at the end of this week. (VERY IMPORTANT WEEK)
Smash that like button.
👍👍👍👍👍
Trade active:
REMEMBER:
Just because BTC has wicks up doesn't mean the trade is invalidated.
(would like to see 4 hr or daily close above 11420)
Just because BTC has wicks up doesn't mean the trade is invalidated.
(would like to see 4 hr or daily close above 11420)
Comment:
Comment:
Comments
I really don't get your h&S pattern. The way its drawn, is for an upward breakout, so its umm upside down. As the neckline is at the top and the pattern below the neckline, this really only happens if the price is descending and forms a reversal pattern. Not the other way around.
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@kylerhaged Yeah, I don’t understand it either — it seems he has it backwards
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@kylerhaged I just mean if we don’t breakout past 10400 it’ll break down and have topped out.
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@jackmcmad yeah I guess this isn’t the range to be even trying to trade a head and shoulders pattern. you’re right!
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Thanks for sharing Yurlo.
What do you think of the chart above?
11420 may be a potential top if your H&S idea does in fact play out.
Time will tell.
What do you think of the chart above?
11420 may be a potential top if your H&S idea does in fact play out.
Time will tell.
Reply
