Possible Daily H&S - Swing Trade

2020-01-20 06:15:29

We have the following:


Head and Shoulder Pattern (Slanted Neckline)
MACD and STOCH Divergence
Engulfing bearish breakout from H&S


CONS;
We haven't broken the long term up trend.
We are near to a good role reversal zone.
R&R not so good if we use a conservative SL place above the right shoulder.

Things to possibly watch for:
Good breakout of trendline and RR + pullback.
Wait for a good entry in H4 or H1.