IF this chart pattern plays out it represents a v good short trade opportunity.
Testing 2009 uptrendline and forming a nice looking H+S Top.
Elliott Waves look like an impulse 1-2 and i-i so could be about to go down in a iii of 3 scenario.
Would look to short here with stop above recent wave 2 high or above top right hand shoulder. Target is a lot lower (possible for at least 5:1 r/r over coming weeks/months).
Testing 2009 uptrendline and forming a nice looking H+S Top.
Elliott Waves look like an impulse 1-2 and i-i so could be about to go down in a iii of 3 scenario.
Would look to short here with stop above recent wave 2 high or above top right hand shoulder. Target is a lot lower (possible for at least 5:1 r/r over coming weeks/months).