Hi friends, I hope y'all are having a profitable week ;)
Today, we don't have any trade signal to exploit, but we do have a possible trade we will take next week after the current weeks price on the weekly timeframe has closed below my signal key level that will fully confirm this medium-term trade idea. Lets take a look at how the bulls and bears might behave in fully triggering the trade signal and not.
Bulls: The price may bullish rally for all the bullish crossed moving averages, dis-confirming the bearish H&S formation - probably after it has bearish bounced off the 1st Monthly Key Lvl and 50 m.a (light blue) with a bullish reversal pattern that will guide the price to bullish break and retest the patterns signal key level together with the Weekly Neckline 3 and bullish crossed short-term m.a's (dark blue and red).
Bears: The price may fully form and bearish drop for the current H&S pattern trend (that might end on the Monthly Neckline 4) together for the 200 m.a (that's not visible here but is on the mt4 chart on my broker) - probably after it has bearish broke and retested the 50 (light blue) and bearish crossed short-term m.a's (dark blue and red), closing with a reversal candle in the H&S left shoulder, which that will trigger what I call a "H&S A-E.2 signal".
That's it for today. I hope you found value in this. If you have a different opinion on this instrument, feel free to share it in the comments section, I'd love to know your point of view!
Stay Blessed,
Doji-2K1
Today, we don't have any trade signal to exploit, but we do have a possible trade we will take next week after the current weeks price on the weekly timeframe has closed below my signal key level that will fully confirm this medium-term trade idea. Lets take a look at how the bulls and bears might behave in fully triggering the trade signal and not.
Bulls: The price may bullish rally for all the bullish crossed moving averages, dis-confirming the bearish H&S formation - probably after it has bearish bounced off the 1st Monthly Key Lvl and 50 m.a (light blue) with a bullish reversal pattern that will guide the price to bullish break and retest the patterns signal key level together with the Weekly Neckline 3 and bullish crossed short-term m.a's (dark blue and red).
Bears: The price may fully form and bearish drop for the current H&S pattern trend (that might end on the Monthly Neckline 4) together for the 200 m.a (that's not visible here but is on the mt4 chart on my broker) - probably after it has bearish broke and retested the 50 (light blue) and bearish crossed short-term m.a's (dark blue and red), closing with a reversal candle in the H&S left shoulder, which that will trigger what I call a "H&S A-E.2 signal".
That's it for today. I hope you found value in this. If you have a different opinion on this instrument, feel free to share it in the comments section, I'd love to know your point of view!
Stay Blessed,
Doji-2K1