This is a short based of an ABCDE pattern. We are on the final leg down going from D to E and I have pinpointed an entry at the box I have drawn.
Once the price enters the box, it will start falling creating a head and shoulders pattern which is a bearish pattern. This will further confirm the trade.
The entry will be right below the box at $24.44
Stop loss is set above the previous high at $24.96.
Take profit is at $22.14 found by using the Fibonacci tool and also using a trend line (red line) which was found on the weekly timeframe.
Once the price enters the box, it will start falling creating a head and shoulders pattern which is a bearish pattern. This will further confirm the trade.
The entry will be right below the box at $24.44
Stop loss is set above the previous high at $24.96.
Take profit is at $22.14 found by using the Fibonacci tool and also using a trend line (red line) which was found on the weekly timeframe.
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