CFX Setting Up for a Head and Shoulders Breakdown

Oct 14

Hi guys!
just a quick analysis

CFX is printing a clean head and shoulders setup on the 15-minute chart. The neckline sits around the 0.1100 zone, which is acting as short-term support right now.

If the price breaks below that neckline with a solid candle close, it could confirm a bearish reversal. The plan would be to wait for a retest of the neckline as resistance and then look for a short entry.

Trade idea:

• Entry: On a confirmed break and retest below 0.1100
  
• Target: 0.1020 area (previous support)
  
• Stop: Above the right shoulder, around 0.1140
  

If the neckline gives way, momentum could accelerate quickly to the downside. Just make sure to wait for confirmation!

2 days ago

Trade closed: target reached