BNB short idea - Head & Shoulder breakdown

13 Şub 2022

BNB has broken down from a head & shoulders top formation below the neckline at $407. Targets of the pattern should project a move to approximately $373. We are consolidating underneath the neckline in the form of another bearish flag formation which generally see's price action break down further. Nice risk reward ratio here as you can place your stop loss just slightly above the neckline @ 407 for a risk-reward of approximately 6x.