Inverse Head and Shoulders pattern is playing out. We have a break of the neck line. We have a few choices here. Either look to go short and ride back to the neck line or wait for a retest to go long and trade to the Inverse target.
Potential buy opportunity.
Early days yet but we could see a right shoulder forming.
However there is a small gap to the downside so if buy pattern fails this could lead me to suspect a gap close instead.
wait to enter on neckline break and enter on the bottom of the right shoulder with a tight SL.
Call it magic or executive outcomes, but this one has been painting many, many ABC patterns and looks like will continue to do so. This pair is going down, no offense. Goals in green, invalidation in red. Not financial advice, do your own research.
Trade falling inside of the pivots.
Bull MACD still present, even more so now than previous idea.
50 EMA acting as dynamic resistance.
Entry will occur from a double bottom.
Again this is something new I'm trialing. Got into the trade too early yesterday.
R:R has improved follow yesterday's efforts, so this trade will recoup the lost 1% from the 18th NOV.
Getting in before the move above the 50 EMA.
Safe Entry would be a retest of the 50 EMA (50 - acting as dynamic resistance).
Getting in early and out before everybody else in current setup.
Can't give a pictorial description using arrows as this is a method i'm experimenting with.