The negative reaction from US stocks to the FOMC announcement saw the market breach the neckline of a head and shoulders setup at 3179.75.
The last candle rule could've been used for risk management with stops placed above the high of the H1 candle which ended below 3179.75 - circa 3190.
Price has since hit the symmetrical target of 3129.75.
The last candle rule could've been used for risk management with stops placed above the high of the H1 candle which ended below 3179.75 - circa 3190.
Price has since hit the symmetrical target of 3129.75.