Inverse H&S in formation

Aug 8, 2018

As of now, prices are working on the completion of right shoulder of the Inverse HS pattern. Expecting a breakout on the upside till 1200 once the pattern completes. One can enter in small quantity when the prices retraces to 1136 level based on some bullish confirmation or could go long above the breakout once it happens.

First setup
Entry - 1135 zone
SL - 1119
T1 - 1145
T2 - 1150
T3 - 1160

Will update on setup 2 once breakout happens.

For study purpose
Thanks

Aug 9, 2018

Note

Setup 1 negated since price gaped up and opened at target 3 yesterday. Will enter only on confirmed breakout above 1160