Going short here. A head and shoulders reversal pattern appears to be forming. If it breaks the neck line theres no major support that would stop it until the red zone I marked out. My two target prices are marked by the green X's.
A "by the book" a head and shoulders pattern usually breaks down the length of the original head after retesting the neckline. I marked out the head measurement with the red price range and the green price range shows where that break down "should fall" which is where previous support/accumulation zones are which makes me more confident in this trade.
A "by the book" a head and shoulders pattern usually breaks down the length of the original head after retesting the neckline. I marked out the head measurement with the red price range and the green price range shows where that break down "should fall" which is where previous support/accumulation zones are which makes me more confident in this trade.