Matic h&s on short tf playing out to the spec
So, I got a little hate for the h&s slanted neckline and is very one is such an expert after watching one YouTube video where “volume must confirm h&s...blah blah” which is really a nice to have and not required. Yes it improves odds of coronation but noting is 100%.
Also the target (neck to head = neck break to target) was the .886 fib vs. usdt. Let’s see if we bounce and hold - remember matic back at .003 was bouncing at the .886 to .94 fib areas (these are lesser known btw) and then started wave 3. From here we want to hold the weekly low and if you had a good buy set your risk is small from here.
Now, I’m not in love with vol on this bounce so I’m playing it right from here.
Manage risk. Goal #1 don’t lose money goal #2 see goal #1.
Buy at a key area where supports are stacked and risk is clear and limited -
Also the target (neck to head = neck break to target) was the .886 fib vs. usdt. Let’s see if we bounce and hold - remember matic back at .003 was bouncing at the .886 to .94 fib areas (these are lesser known btw) and then started wave 3. From here we want to hold the weekly low and if you had a good buy set your risk is small from here.
Now, I’m not in love with vol on this bounce so I’m playing it right from here.
Manage risk. Goal #1 don’t lose money goal #2 see goal #1.
Buy at a key area where supports are stacked and risk is clear and limited -
Comment:
Up 10 % from target now - break even to 1% sl in effect = reentry at local bottom with tight sl is triggered
Trade active:
Coming resistance areas: .5 and .618
Coming resistance areas: .5 and .618
