This is not a recommendation, but rather a question. I am still learning chart analysis, which scenario do you think is more realistic? If this is Head and Shoulder, then I guess we can fall to 1.00000 range, what do you think?
Am grateful for any feedback and advice. Have a nice day.
It's a bearish setup regardless! That downward channel's been the dominant trend this entire year. Bulls tried HARD this month to break it and you see we just keep pushing lower. The head and shoulders psychology is definitely there, the problem is that we're standing on the edge of a cliff. There's no reference for where we go from here. But it looks like short is the better option considering the long term trend. Nice work spotting this!
qromext
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Great analysis, esp the Head and shoulders, they do work, sometimes I turn to simple patterns and they work big time.
JinDao_Tai
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Does look like a H&S setup. Not sure about the 1.00 target, although very much possible.