So far it has been moving as suspected, getting closer to my entry zone. Many of my followers have been asking me why i did not go long on this expected move up. Well that is quite easy to answer:
In this case i am HOPING it moves up, so it can retest the neckline of that H&S again and forming this possible bearish wedge. Purely because i am hoping, i won't trade it but will wait patiently until it reaches my entry. I would be much more comfortable to short it at my desired entry level than to go long when i posted "Part 1" of this trade.
Now it's just a matter of time, waiting for it to reach my desired level, wait for some rejection and short it. I don't know where the high will be, but i expect somewhere around my blue lines.
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Previous analysis:
In this case i am HOPING it moves up, so it can retest the neckline of that H&S again and forming this possible bearish wedge. Purely because i am hoping, i won't trade it but will wait patiently until it reaches my entry. I would be much more comfortable to short it at my desired entry level than to go long when i posted "Part 1" of this trade.
Now it's just a matter of time, waiting for it to reach my desired level, wait for some rejection and short it. I don't know where the high will be, but i expect somewhere around my blue lines.
Please don't forget to like if you appreciate this:)
Previous analysis:
