ETH/USD Possible Head and Shoulder Pattern?
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I was reading my newly purchased book " Technical Analysis of the Financial Markets by John Murphy. One of the best technical analysis books I have ever read. One of the chapter talks about price patterns which I have never learned from the professional analysis instead of the "online gurus" in youtube and tradingview.
One the famous pattern - Head and shoulder could be used in trend continuation scenarios. Take a look the previous price actions in ETH, you can see we had one head and shoulder during May and June 2020.
Let's see if we can form another one for the price to reach the 280 target. If failed, price could retrace back to 220 if bear takes over.
One the famous pattern - Head and shoulder could be used in trend continuation scenarios. Take a look the previous price actions in ETH, you can see we had one head and shoulder during May and June 2020.
Let's see if we can form another one for the price to reach the 280 target. If failed, price could retrace back to 220 if bear takes over.
Commento
Can we reach the target?Commento
Target reached. Move SL below the last candle low. If you want to book some profit, its about time.
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