Dow. H+Shoulders. Divergence

Apr 13, 2020

Divergence on the dow hourly MACDH. Possible head and shoulders, watch out for a fakeout breakout

Apr 13, 2020

Note

22570 target (height of H+S). Also support level and potential breakout Zone of the long term rising wedge (see 4hr or daily charts). Stop above the high of the right shoulder, although generally if it moves above resistance of 23520 probably best to close out and look at a long.

Apr 13, 2020

Trade closed manually

Took 75% of profits at swing low 360 points lower. Kept remaining 25% with high of last candle before market closed at 23520.