The Overwhelming Trend on Higher Timeframes has changed from Bearish to Bullish so it is very unlikely that we will get a homerun on this pattern.
Nevertheless it is an amazing trading opportunity!
But be aware that the even the best setups need their confirmations that the Setup is going to hold!
We have a distinct bearish Butterfly Pattern with a small PRZ (Potential Reversal Zone).
I want to see the M30 Stochastics leaving the OVERBOUGHT area, as a turningpoint confirmation, before i execute the trade!
A combination of two harmonic pattern completing at the same area, gives us a nice shorting opportunity!
Due to the fact, that the overhelming reversal should be greater we can expect the market to rallie all the way down!
Please wait if the market respects the area and turns!
Distinct Head and Shoulders Pattern, or as I like to call it the "Shampoo" Pattern.
Wait till the market CLOSES under the trendline. Stop has to be over the right shoulder!
Target usually is the high of of the Pattern itself projected downwards from the entry point.