As shown on the chart, price has reached a consolidation within a consolidation. These seups yield trades with the tighest stop losses and best risk reward ratios. Entry is simple, wait for price to break and retest the low of the smaller consolidation then enter accordingly.
I'm not a fan of Head and Shoulders patterns - inverted or otherwise - but many people will have noticed the formation in the FTSE100 and will be waiting for the break down.
Whilst oversold stochastics could promote further right shoulder development, the eventual break will likely target 6400/50 as profit-taking pressure increases.
Would Victor be a seller?