Usually I don't trade head n shoulders unless there are other valid reasons to enter.
If you are an aggressive trade, you might want to enter just after the breakout of Neckline which has happened on Friday market closing.
If prices are at your expected entry level during Monday open you can go short in PNB
Happy Trading !
It is an ideal time to enter this one as following reasons,
1. Fibs Extension Completed at 1.618
2. Wave 3 completion at Structure
3. Ratio and Structure confluence
4. RSI and MACD negative
Target 1 - 80
After a long and bleeding down retracement which ends at 1.618 extension, I expect to see a rally from these levels to target 1 and moving onto to Target 2 within 1-2 weeks.
As per the fundamentals, it is trading lower than its intrinsic value which makes it a long term buy opportunity.
