Breakout strategy
Hi folks!
After forming a Head and Shoulder pattern, it failed to break down the 319.6 zones, it could break only on May 25. Afterward, a downtrend started. As you can see from the chart, we are still in a down-trend which started on May 15. But taking the indicators into account, we might see a trend reversal (mid-term).
We have to watch carefully if it breaks the trend-line or it will keep going in the direction of the 292 territories.
Monday will tell us.
I hope you can make good trades out of it.
After forming a Head and Shoulder pattern, it failed to break down the 319.6 zones, it could break only on May 25. Afterward, a downtrend started. As you can see from the chart, we are still in a down-trend which started on May 15. But taking the indicators into account, we might see a trend reversal (mid-term).
We have to watch carefully if it breaks the trend-line or it will keep going in the direction of the 292 territories.
Monday will tell us.
I hope you can make good trades out of it.
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