The price could still reverse to test the support (neckline of the pattern) and if it bounces comfortably worth another look for a long. If you manage to get in the trade after a bounce remember to create stop losses in profit early as this is happening on smaller time frame (15 mins).
Comment:
Cause the price movement into this Inv. Head and Shoulders pattern was from a descending parrallel channel, a pattern change could start and ascending parallel channel which is bullish and great give great trading opportunities which are less risky due to the trading limited to within the parallel channel and stop losses are easily placed just outside the channel which mean low stop loss cost. Lets hope it happens. Good luck!
Comment:
Just wanted to share that i took a small trade on this. Was wanting to find a good time to get in too. its a small amount and i won't feel much if it gets underwater but if the price uptrends and happens to find new range and support, I will add to the position in small portion and place stop loss in profit so no matter what happens i will still make some. In times of uncertainty its better to avoid margin trading cause of the daily fees incurred. The longer you hold the more you are losing money.
DCA still the best if you have cash to spare. Simply buy then sell the assets in the same way you do margins and only with assets that you see value in for the long-term future as well.
Good luck!
DCA still the best if you have cash to spare. Simply buy then sell the assets in the same way you do margins and only with assets that you see value in for the long-term future as well.
Good luck!
