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 close of price above the neckline should warrant a buy on pullback to the neckline area.
A show of bullish strength by a towering green candle above the resistance/neckline area. Good or emphatic volume should accompany the break out.
DO NOT CHASE THIS ASSET. LET IT PROVE IT'S STRENGTH TO YOU. BE PATIENT.
Adjust trade size with reference to amount or % of account risked per trade to stop loss.
Good luck
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 close of price above the neckline should warrant a buy on pullback to the neckline area.
A show of bullish strength by a towering green candle above the resistance/neckline area. Good or emphatic volume should accompany the break out.
DO NOT CHASE THIS ASSET. LET IT PROVE IT'S STRENGTH TO YOU. BE PATIENT.
Adjust trade size with reference to amount or % of account risked per trade to stop loss.
Good luck