Possible head and shoulders pattern
Hello everyone,
This is my first attempt to publish an idea, so please bare with me.
LINK/USDT on the 4 hour looked to me like it may have finished a small head and shoulders pattern indicating a breakdown.
If this were to occur I assume two scenarios:
1. correction to the weekly MA
2. correction to a long line of support, just above the monthly MA
AS I am a fairly new trader, I don't know how large a pattern like this should be to be considered a head and shoulders. This one looks quite small, so it might not lead to any downward movement. Please share your thoughts! Thanks for the read :)
This is my first attempt to publish an idea, so please bare with me.
LINK/USDT on the 4 hour looked to me like it may have finished a small head and shoulders pattern indicating a breakdown.
If this were to occur I assume two scenarios:
1. correction to the weekly MA
2. correction to a long line of support, just above the monthly MA
AS I am a fairly new trader, I don't know how large a pattern like this should be to be considered a head and shoulders. This one looks quite small, so it might not lead to any downward movement. Please share your thoughts! Thanks for the read :)
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