MREO after forming an inverted head and shoulders on the weekly chart, the price just broke the neckline and triggered a long trade. Approximate target between 7 and 8.
Trade safe.
Trade closed: stop reached
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Late update: The head and shoulders pattern failed. I closed my trade.
what are your thoughts now after the huge market dip?
I was holding till end of the year, wondering if now is the time to load up more
Elpidaldo
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@JDUB81, hello, difficult, the chart still looks great. You have the 20 moving average as support, the 50 ma is not far (3.41). The market is still bullish (until proven otherwise) despite the small correction. I'd place my stop loss at 3.20 or use the opportunity to add more.
All the best.