I would wait for the pullback still...

Morning folks,

So, H&S performance was rather nice, despite that market was thin. Now is the major question - whether we're ready for new rally, or its not the time yet. My personal view is the latter. Despite that jump was nice, but if we take a look at 4H chart we see that - market stands at strong K-resistance area, and overall action on CD leg is a bit slower than on AB pullback. Besides, bearish grabber could be formed within few hours. Personally I'm a bit conservative, and in the conditions like that I prefer to wait for clarity and try to catch the possible pullback around major support areas - the nearest one is around 48K. THere are some other reasons exist on higher time frames as well.

But, this is just my personality. Tastes stand to differ. So, if you would like to possess on immediate upward continuation, which also has chances to happen - you could try to do this. For this purpose you do not need to place deep stop. In fact, downside reaction on COP is done already and if market goes up at all - it should do it right from here. Otherwise, "my" scenario above starts to realize. So, chose what you like more and what is better fits your trading style.