UNOs are extremely difficult to trade because the primary trend formation will over perform, while the counter trend will under-perform, bringing one back to the long term . The expected target of the iH&S is 8100 using the fuchsia line, but because we are in a bear market it under performed to 7700 in black, setting up the left shoulder, head performed to 7867.5; I expect the right shoulder to range as high as 7800 I'm out at 7900 and if I'm wrong I loose a little be of money but get the joy of this S Post.
Thus far, looking at all the resting levels on the summer run up has been very useful for my target setting. My stop strategy is to be back one day at the top of a flat Heikin Ashi Candle, which shows we are in a strong trend, moving stops daily util we hit target; my regret was staying greedy at the fuchsia line at 6730ish, not closing (or getting really right a stop at the ) on my short ladder; I only doubled my money, instead of going 3x from my short at 9200. This is a riskier reversal trade than the trend trading that makes me most my money, BUT the price action is getting compressed at the red level which has several touches over the last several month, setting lower wicks on the daily, with a red trad candle and a shrinking green HA Candle, while the topping out as well.
I'm going to keep feeding my short with the equity from my short and seriously think about taking profit and waiting for a relief rally at 5850ish, the sky blue line. Then I'll short that rally too.