Im long on the higher time frame but looking at a short trade with minor correction in the channel . Head and shoulder reversal on the 1hour chart.
Comment: HIGHER TIME FRAME VIEW
Comment: Taking some risk off. Move stop on position 1 to positive.
Comment: target 1 hit, cover position 2
Comment: That's it for me taking my money. 2x targets. Will start new post if I take long.
Bottom or Top im not sure. From the study of WD GANN 50% level is the strongest support level in any market. With price reversing and breaking out of a wedge at that level im only long bias. You could very well be right , maybe we get a double bottom at the 50% level? Maybe it breaks and we get a lower low. Just trading low time frame here anyways. All the best.