ACC following the H&S Pattern breakdown happen yesterday 300 points down side What Does a Head and Shoulders Pattern Tell You? A head and shoulders pattern is comprised of three component parts: After long bullish trends, the price rises to a peak and subsequently declines to form a trough. The price rises again to form a second high substantially above...
1. MOVING AVERAGE CROSSOVER 2. TREND LINE BO 3. SUPPORT RESISTANCE 4. PRICE ACTION 5. SUPPLY AND DEMAND 6. BREAK OUT STRATEGY
ACC has traded into the weekly resistance which was previously support. As the price moved to resistance, we can see on weekly long wicks to the downside . Now on the daily TF we have bearish engulfing. Enter short and target around 1125 as first target.
As per chart, ACC can reach 1530-1550
As mentioned in the chart....in blue lines..targets