After what felt like an eternity, price has finally formed the second shoulder completing what looks like an INVERTED DOUBLE HEAD and SHOULDER. Now price has reached the neckline and a major level of structure. One could ask themselves WHAT WOULD PRICE DO?.. break it right away? or take a short ride back down before trying one more time. With that shooting start its clear that the break wont happen now. So we will be taking a small short position is price tries to go back there and upon good price action short.
Gud Luck.
Gud Luck.
Trade closed: stop reached:
Our stop loss was a lil too short and as a result we got stopped out! However, price is bound to reach the TP we originally expected