Hello Traders! Check Related Idea for market context!!
I will update my idea as the trade progresses if any changes occur and my analysis is wrong, or need to be adapted to the new development of price-action. Thanks for the support! ----------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------
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thanks for sharing. i've entered a position as well after spotting a possible bullish ABCD at H4. although the time component is not precisely AB=CD, the height of AB is close enough to CD.
I'm still cautious though since the Daily TF has broken the Head and Shoulder pattern, and price action just retested and failed the dynamic support/neckline of said H&S. On the flip side, there are buyers and potential consolidation is forming for a leg up. Thanks for sharing, Safe Trades and keep it coming! 🙏
INotFancy
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@edptaiki, thanks for sharing your thoughts as well! I agree with your assessment "there are buyers and potential consolidation is forming for a leg up" - let's monitor and watch how the price-action develops this week! Thanks again, I'll keep posting! :)
i've entered a position as well after spotting a possible bullish ABCD at H4.
although the time component is not precisely AB=CD, the height of AB is close enough to CD.
I'm still cautious though since the Daily TF has broken the Head and Shoulder pattern, and price action just retested and failed the dynamic support/neckline of said H&S.
On the flip side, there are buyers and potential consolidation is forming for a leg up.
Thanks for sharing,
Safe Trades and keep it coming! 🙏