MadNigerian

MadNigerian

Consolidation since June 20th. Call it rounding bottom, inverted multiple/complex head and shoulders or perhaps a cup and handle bottom but the idea is the same - BREAK OUT AFTER MONTHS OF CONSOLIDATION Entry 7.17 Stop loss 6.55 Take profit 9.38 Adjust position size according to risk appetite Comments or cheers will be appreciated

MadNigerian

Cause=effect Break out from area of consolidation from 7 months ago is pretty significant Buy 50-61% retracement from the breakout target 54 Adjust position size with respect to risk appetite. Good luck

MadNigerian

REMEMBER: There are no good assets. All assets should be considered wrong to purchase unless proven otherwise. Do not trade what you want to see but rather, Trade what is in front of your screen. We have a potential inverted head and shoulders pattern which is a reversal pattern. Long term trend: Bullish Intermediate trend: Bearish A 4H, 12H or Daily...