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lugochild
Nov 6, 2018 2:08 AM

XHV Potential IH&S Breakout Long

Description

***NOT A PROFESSIONAL TRADER, JUST A DUDE WITH AN IDEA***

XHV looks like it could be setting up for a potential IH&S Breakout on multiple timeframes. Breakout with volume would lead to the following short-term targets based on previous resistances and IH&S target from Head to Neckline.

Target 1: 45000
Target 2: 49000
Target 3: 51700

Failure would result in a re-test of the 1HR MA100, MA200 and ascending trendline. Failure to hold support at any of these junctions would result in a re-test of support at the Head of the IH&S followed by strong support at the 25000-26000 zone.

Volume is currently low and would need a big injection to validate any potential neckline breakout.
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