Talk about a phenomenal set-up...
Ark with the bottoming inverse head and shoulders formation and broke out with large volume. Currently is retesting the neckline of the iH&S which is always a great risk reward play to enter there and is more conservative than playing the breakout. The retest also coincides with the Tenkan on the 12H and the Kijun on the 4H and it is retesting in falling wedge formation (bullish continuation formation). A lot of good things to see in this chart. There are also hidden bullish (continuation of uptrend) divergences on the RSI on the lower time-frames like the 6H, 4H and 2H. I have entered at the neckline retest of the Kijun 4H at 0.000346.
Stop Loss: Below the right shoulder at .0003090
Target: 0.00044 area
Ark with the bottoming inverse head and shoulders formation and broke out with large volume. Currently is retesting the neckline of the iH&S which is always a great risk reward play to enter there and is more conservative than playing the breakout. The retest also coincides with the Tenkan on the 12H and the Kijun on the 4H and it is retesting in falling wedge formation (bullish continuation formation). A lot of good things to see in this chart. There are also hidden bullish (continuation of uptrend) divergences on the RSI on the lower time-frames like the 6H, 4H and 2H. I have entered at the neckline retest of the Kijun 4H at 0.000346.
Stop Loss: Below the right shoulder at .0003090
Target: 0.00044 area