Short trade TP hit
now is time to go long
now is time to go long
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Better view
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We jumped on this Inverese Head and Shoulder and profited on the short trade of the Right shoulder. We took the LONG trade on Friday and today I found out a possible short continuation clue on Daily TF. Are the big boys trying to manupilate us the retail traders by caving this possible fake Inverse Head and Shoulder pattern? I will close my long trade once market opens.
See the chart below for a different view.
See the chart below for a different view.
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As you can see above, we are on a downtrend and on Tuesday close, market caved a Bullish Pinbar below at a Key zone which created Inverse Head and Shoulder pattern on lower time frames.
Price rallied up on Wednesday and on Thursday failed to make a new high meaning sellers came in on Friday and took charge. Because we are on a Downtrend, I strongly believe that the Bullish Pinbar was a set-up.I always see Inside Bars with a Pinbar combination as a strong signal...so I am SHORT!
Price rallied up on Wednesday and on Thursday failed to make a new high meaning sellers came in on Friday and took charge. Because we are on a Downtrend, I strongly believe that the Bullish Pinbar was a set-up.I always see Inside Bars with a Pinbar combination as a strong signal...so I am SHORT!