We have to chart patterns we could consider in this trade and both weigh heavily on the bearish side of things:
1. We see what could appear to be a bearish H&S.
2. We have a downtrend channel.
3. Price seems to be breaking support.
For now we should wait for the completion of the move before we can make any final judgments. I will be waiting on a completion of the break, retest and confirmation to the downside!
Let me know your thoughts in the comment section and please leave a like if you found this idea useful.
1. We see what could appear to be a bearish H&S.
2. We have a downtrend channel.
3. Price seems to be breaking support.
For now we should wait for the completion of the move before we can make any final judgments. I will be waiting on a completion of the break, retest and confirmation to the downside!
Let me know your thoughts in the comment section and please leave a like if you found this idea useful.
Trade closed: target reached