head and shoulders pattern in rising channel

6. Feb. 2019

hey traders,

though we have recently seen a bullish breakout of 54.0 level,
and technically the market has violated a bearish trend,
we have a nice potential selling opportunity to trade.

We see a nice rising parallel channel and a head and shoulders pattern formation.
The violation of a neckline will also be a violation of this rising channel.

So for us it is a very good counter trend opportunity to trade.

However, remember. The appearance of the pattern itself does not predict the market movement,
we are looking for a bearish breakout.

your target will be based on structure,

stop above head

good luck!

6. Feb. 2019

Trade ist aktiv

bearish violation

7. Feb. 2019

Anmerkung

Again market is going to a neckline

8. Feb. 2019

Anmerkung

Going down

9. Feb. 2019

Anmerkung

Small pullback