Title: Technical Analysis Alert: #STG Signal Insights
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๐ Signal Type: Scalping
๐ Chart Analysis:
$STG is displaying a potential head and shoulders pattern on the 4H timeframe, indicating a bearish trend. With the left shoulder and head already formed, the right shoulder is pending, suggesting a possible long entry opportunity until 0.63.
๐ RSI Breakdown:
Observing the RSI pattern, a breakdown of the trend line hints at an impending substantial drop after a retest.
๐ก Trading Plan:
- Long Entry: Consider opening a long position after the completion of the head and shoulders pattern.
- Targets for Long: Aim for 0.62.
- Targets for Short: Anticipate a drop to 0.52 and 0.40.
- Stop Loss: Set at 0.70.
๐จ Risk Management:
If holding STG in a long position, consider closing at the top of the right shoulder.
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