head and shoulders pattern in rising channel

Feb 6, 2019

hey traders,

though we have recently seen a bullish breakout of 54.0 level,
and technically the market has violated a bearish trend,
we have a nice potential selling opportunity to trade.

We see a nice rising parallel channel and a head and shoulders pattern formation.
The violation of a neckline will also be a violation of this rising channel.

So for us it is a very good counter trend opportunity to trade.

However, remember. The appearance of the pattern itself does not predict the market movement,
we are looking for a bearish breakout.

your target will be based on structure,

stop above head

good luck!

Feb 6, 2019

Trade active

bearish violation

Feb 7, 2019

Note

Again market is going to a neckline

Feb 8, 2019

Note

Going down

Feb 9, 2019

Note

Small pullback