After a massive move up, price as formed a head and shoulders pattern + broke below the neckline.
Highlighted are 2 possible accumulation points if price reaches these points in the near future.
Point 1 : Fibonacci cluster (1.618 inversion & 1.414 extension) + big resistance reaction to the left (follow green line) + previously formed structure support + possible arrival of 100 EMA into the zone.
Point 2 : big resistance reaction to the left (follow orange line) + head and shoulders pattern target taking + area underneath 100EMA - which I believe will be overshot before price rejects back above and moves further up.
Trade with care.
评论
⋅
Realised the feed doesnt go that far back..
评论
⋅
Very strong reaction off 100 EMA
评论
⋅
Nice head and shoulders pattern
评论
⋅
had issues breaking the neckline
评论
⋅
Lost the charting for this idea so had to redo it.
We have reached acc zone 2
评论
⋅
seeing a decent amount of divergence on the RSI here
评论
⋅
Head and shoulders pattern has formed. A break above the neckline will be good