Just a quick one; obviously time sensitive. Excellent risk : reward in this trade > 1:8 Looking for +13%
+ There has also been a breakout of the recent downtrend. This low for the right shoulder is also a retest of that breakout.
+ looks like Wyckoff accumulation is well underway, keep an eye on this.
Inverse Head & shoulders trade:
Entry: around $1868.5 (Right shoulder low?)
Target: $2116.5 (height of head projected from neckline)
Stop: $1851.4 (Below head low)
Never Trust. Verify.
D.Y.O.R. Not Financial Advice, this is my trading journal.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
+ There has also been a breakout of the recent downtrend. This low for the right shoulder is also a retest of that breakout.
+ looks like Wyckoff accumulation is well underway, keep an eye on this.
Inverse Head & shoulders trade:
Entry: around $1868.5 (Right shoulder low?)
Target: $2116.5 (height of head projected from neckline)
Stop: $1851.4 (Below head low)
Never Trust. Verify.
D.Y.O.R. Not Financial Advice, this is my trading journal.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Trade closed: stop reached:
Inverse Head & Shoulders trade failed; stopped out