On the hourly chart we have one of the most popular pattern formations.
This is a reversal pattern where if we see a breakout,
we expect the same amount of move in the opposite direction as the move in between the neck line and the head.
In this case we should see price down at 0,8821.
SL above the right shoulder!
A good entry will be on the re-test of the neck line.
This would give us the best risk to reward ratio and it would also confirm the H&S pattern.
This is a reversal pattern where if we see a breakout,
we expect the same amount of move in the opposite direction as the move in between the neck line and the head.
In this case we should see price down at 0,8821.
SL above the right shoulder!
A good entry will be on the re-test of the neck line.
This would give us the best risk to reward ratio and it would also confirm the H&S pattern.
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💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ JOIN FREE TELEGRAM: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.