Potential h&s off the higher time structure (purple horizontal line). Right shoulder is potentially a buildup. I would like to play the breakdown of that buildup with stoploss above that buildup instead of the head.
I believe that trading reversal chart pattern off a higher timeframe structure increases the chance of success.
This buildup (tight consolidation) at the neckline tells us bulls are not strong enough to push price back up or bears are strong enough to keep price near support which increased the chances of breakdown.
I believe that trading reversal chart pattern off a higher timeframe structure increases the chance of success.
This buildup (tight consolidation) at the neckline tells us bulls are not strong enough to push price back up or bears are strong enough to keep price near support which increased the chances of breakdown.