Updates on the possible Bullish head and shoulder pattern:
PSEi was able to revisit near 8000, the neckline of the possible bullish HnS pattern.
Upon reviewing daily trades, it was somewhat weak, I sold my positions around 7900-8000 and left the HnS pattern possibility. 700 pts rally reward (8700 intial target)
When PSEi came down day by day after reaching 8000, I concluded that I did the right thing.
Well, HnS is possible as of now 9-17-2018. But when it reaches near near 7200 or even as low as 7000, I believe, downtrend will resume,and no HnS pattern is in place.
For now, previous low of 6930-7000 is the probable area of support.
Markets are always in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.financial advisory company
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