UNIUSDT - Inverse Head and Shoulders and Entry timing

21 paź 2021

UNIUSDT
4H trend chart
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UNI is forming a potential inverse head and shoulders pattern.
The neckline of this potential formation is $27.607
However, there was a fake-out at $27.988
If price can break out and stand firm at $27.607, this H&S will be completed.
Because the fake-out point is close to neckline, I suggest open position when 4H closure price hit 27.988 w/o long upper shadow line
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Profit Targets:
a) 30.773~31.899---Fib(1.272~1.382)
b) 34.315----Fib(1.618)
c) 38.226----Fib(2)

Stop losses:
a) 25.511-----Red horizontal ray
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