How to trade Inverse H&S chart pattern

12 lut 2018

Hello Traders,

BTC might be forming an inverse H&S and you can trade it by entering early (very risky and would need tight stop-loss) if a candle closed with good volume above EMA 8,13, 31, 55 and EMA 55 (in red ) is below all three 8, 13, 21. Plus, in MACD blue line should be above the orange. A good indication would be a large volume like in the previous dip.

Also, if you want to play it safe, you can wait for the pullback to the neckline which confirms having a solid breakout.

12 lut 2018

Uwaga

We had a breakout but the bears are pushing it down. Watch the candle closely to determine if we end up with a shooting star. We need to sustain 8900+ in order to go higher.

13 lut 2018

Uwaga

BTC is testing the red line (55EMA). If it holds, we will get a breakout. Also, focus on RSI not to go below the red line.

14 lut 2018

Uwaga

BTC is above the neckline. Watch out for volume confirmation.

14 lut 2018

Zlecenie aktywne

This is the signal. Good volume, 55EMA red line below all, RSI going up, and MACD blue is above orange.

15 lut 2018

Uwaga

We are facing two major resistances, the red line, and the 200EMA. if BTC stays above 10k, it will attract more people to get in and drive the price higher.

17 lut 2018

Transakcja zamknięta: osiągnięto wyznaczony cel

Put a trailing stop to secure what you have made so far.