Price Break above the ascending channel and reintegrate it 24 Bars after,
Price Fail to break above our resistance area,
Price Forming a Shoulder Head Shoulder Pattern (Neck line is our first support area),
Scenarios:
Sell :
Wait For breaking bellow Our first support area (Neck line),
Wait for the price to bounce on the Neck line,
Wait for the rejection candle pattern to form e.g. bearish engulfing , pinbar , Inside bar etc,
Initiate SELL order,
Targets are TP1 to TP3,
SL above the resistance Area.
/!\** Disclaimer**/!\ The scenarios described in this analysis are subject to change at any time without prior notification. This analysis is provided as a decision support.
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