CHXEUR:PGSO has been in a huge uptrend since 30th November 2017, soaring over 270% in less than 240 days.
- Now it's in a downtrend, and looks to be forming a H&S formation.
- It broke it's ascending trendline and also failed the recent pullback. (Marked in stapled red)
- Should the price break through the 200 sma, we might see the 50 sma crossing down and generate a bearish death cross.
- If the support line of the H&S formation break (red descending line), the price target should be around the 14.82 area. (Marked by yellow)
To me it looks bearish, but I will remain neutral. I would go short should the H&S pattern be confirmed by a break of it's support line.
As an apprentice of Technical Analysis, any constructive feedback would be greatly appreaciated.
BlackCrown
- Now it's in a downtrend, and looks to be forming a H&S formation.
- It broke it's ascending trendline and also failed the recent pullback. (Marked in stapled red)
- Should the price break through the 200 sma, we might see the 50 sma crossing down and generate a bearish death cross.
- If the support line of the H&S formation break (red descending line), the price target should be around the 14.82 area. (Marked by yellow)
To me it looks bearish, but I will remain neutral. I would go short should the H&S pattern be confirmed by a break of it's support line.
As an apprentice of Technical Analysis, any constructive feedback would be greatly appreaciated.
BlackCrown
코멘트:
And so the neckline has been broken confirming the formation.
This gives us a price target of 15.45 with a timeline to complete before or at the 21st of March 2019.
Look Out Below!
This gives us a price target of 15.45 with a timeline to complete before or at the 21st of March 2019.
Look Out Below!
코멘트:
Possible bearish h-formation in the making.
Continuation to the downside is very likely.
Continuation to the downside is very likely.
거래청산: 타겟 닿음:
Target is reached. A bottoming formation would be nice to see in this area for a possible long.
Will the neckline hold?