There is a rare bearish abandoned baby formed at a 3 months head and shoulders neckline for Hang Seng.
on h4 , a similar head and shoulders pattern is forming at the neckline, suggesting that price is respecting this as resistance and perhaps in the midst of distribution.
A bearish h4 candle will be a good signal as ‘right shoulder’ being formed.
This is my potential A trade.
D1 retest of 3 months neckline
Key significant event: Rare bearish abandoned baby
h4 hns 9 days high flushed by 1 bearish day expansion.
Price seem to be respecting fib5 n fib6 repeatedly.
( will name this as fibonacci climb)
Multi confluence resistance near fib5 level
Any retracement towards there is a short for me.
Not much movement on past few days.
Exited this trade on all pos on Friday, did not want to hold over the weekend as I am not sure of how price gaps over the weekend.
Nevertheless, trade still has not been the real impulse move.
Waiting for reentry next monday on retracement.
This is still a potential A trade.