Hello Traders,
GA has completed a head and shoulders on the daily and for me to be involved in this trade I am looking for a retracement into the PRZ, which I believe to be a high probability reversal area if price action tests this zone. If completed, I will be expecting a harmonic move to the downsize to my target area in green. This is not a traditional head and shoulders trade where the target is 1:1 of the head as I do not tend to trade head and shoulders, but use it as a bonus when conducting analysis. It is a bonus in my books.
-P.S.
GA has completed a head and shoulders on the daily and for me to be involved in this trade I am looking for a retracement into the PRZ, which I believe to be a high probability reversal area if price action tests this zone. If completed, I will be expecting a harmonic move to the downsize to my target area in green. This is not a traditional head and shoulders trade where the target is 1:1 of the head as I do not tend to trade head and shoulders, but use it as a bonus when conducting analysis. It is a bonus in my books.
-P.S.
Order cancelled:
Price did not retrace into my PRZ, so this idea is being put to bed... for now
"plan your trade and trade your plan"
- @Akil_Stokes
"plan your trade and trade your plan"
- @Akil_Stokes