happy first of the month!! hope we all have profitable months :) so here it goes...
- on the daily market closed below the downward trendline yesterday - down to the H4 a bearish engulfing formed closing two previous bullish candles - a head and shoulder pattern formed which is more clearer on the H1 - entry could have been taken at the london open where the right shoulder formed - but now we WAIT for a breakout of the neckline and depending on how aggressive your entries are you can enter at the immediate breakout or wait for a retest of the neckline - and just like every other trade I DO NOT KNOW WHAT WILL HAPPEN NEXT, i'll just act on my edge and SEE WHAT HAPPENS
interesting setup how low do you think it will go?
K0KETSO
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@TheFxAce, hey Alex! i don't know how low it will go it could tank to the monthly lows all i'm looking for is to take profits if it eventually reaches 161.600