INJECTIVE Head and Shoulders

28 thg 5

Just a quick trade set up that could be a good LONG to take. Price looks to have printed an inverse Head and Shoulders which looks like a bullish reversal.

Along with the Bullish inverse Head and Shoulders INJ broke the bearish diagonal trendline with a strong retest as new support and consistent higher lows being posted.

Using a price forecast that is a mirrored copy of the move down I think that if BTC behaves we should see something similar with incremental take profit points on the way up.

Clear invalidation is a clean break below the head of the Head and Shoulders pattern.

30 thg 5

Bình luận

TP1 hit, good reaction from the breakout. Alts still subject to BTC's fluctuations.

Still in the trade for now

5 thg 6

Đóng lệnh: dừng lỗ

TP1 proved to be strong resistance and couldn't be flipped resulting in a continuation of drawdown. I hope INJ can find its feet soon, without a strong BTC this looks unlikely for now

10 thg 6

Đóng lệnh: đạt mục tiêu

The SL may have been too aggressive but the overall trade idea turned out correct. TP3 hit once price reclaimed the SL level.