- Head and Shoulder pattern
- Good for short opportunity
- Wait for price to break through the neckline before entering the trade
Happy trading and take care of your risk management
Look for selling opportunity as the price approaches the 200 EMA.
There is a Doji candle near the 200 EMA which makes the trade higher probability.
Happy trading and look after your risk management
Price is at the area of resistance.
The second candle is the confirmation candle.
Risk to reward ratio of 1:2
Happy trading and take care of your risk management
Hi, do provide me any feedback so that we can learn from one another.
- Lower high and lower low on the 4hr timeframe
- 200 EMA add as a strong resistance
- Good risk to reward ratio
- Double top at 0.67864
- 10 SMA and 5 EMA is pointing downward
Happy trading and look after your risk management.
The 200 EMA act as a resistance. The pattern breaks through the channel and is moving upward. Using the channel as a support, it has a good risk to reward ratio. Look out for this pairs if it breaks through the 200 EMA.
Both the moving averages are pointing downward which is the reason for the short sell. Based on the zig-zag lines, it just ended a retracement and will continue to move lower.
