A very nice 1:3 RR EG setup

8 Haz 2020

Head and Shoulders clearly formed. We waited for a fakeout (which happened), and now we will wait for a proper break of the STRONG resistance line (BLUE line), before making any judgements. If it is a strong push down and then retests the support line as a ceiling with nice rejection candle formation, we will enter a SHORT trade. As visible, the next resistance is quite far down which makes this trade a very nice Risk to reward Ratio. Please consider leaving a like if you agree with this analysis! Thank you.