On the chart we can see an inverted head and shoulders, which got rejected at the neckline, and we now expect it to retest and break the neckline.
We see current level as a good opportunity for an entry, but would at least wait for the market to open, to see how it will turn out from the current dump.
A breakout trade would give a ROI of 21%, while an entry at current level will give a possible ROI of 30%
Comment
⋅
The price retested the neckline but got rejected. Wait for a successful breakout before taking a position.