I am already short at 35.35 and waiting for neckline test. It's intresting that 34.95 was previously tested so it's a nice confluence with possible target based on H&S :)
Comments
UnknownUnicorn55847
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Still quite bearish , but i would consider closing position partially and securing some profit , move your stop to breakeven and see what's gonna happen to the market direction or close your position fully if it's to stressful for you. That huge green bar can be very unsetting for sellers, so the market can even change direction if they will be to afraid to hold their positions.
UnknownUnicorn55847
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And so we have a perfect second chance to take a short , if we close below the neckline after retest. This can be very profitable "kiss of death" :)
syungmao
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What is your read now?
UnknownUnicorn55847
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if you look closely you will see that inside the head there is also H&S pattern , which worked very well as you can see , it's clearly visible on H4 time frame. Small H&S seems to be some kind of fractal of the bigger pattern. Just saying , don't know nothing for sure , though it is very interesting.
UnknownUnicorn55847
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Oh mistake , i shorted at 34,95 , looked at wrong column in mt4 :D