This pattern is a continuation patter for a Cup Pattern which appears on Weekly Time Frame.
On 1h/4hourly TIME FRAME, there's this ascending channel channel which has had 2 touches on ascending trendline (Support Trendline) and is currently heading towards a 3rd touch...For now, there's a correction which has developed as the market has tested the horizontal support line twice after breaking it as it was acting as my Resistant zone...
...so the key level has been broken and retested...Now the market has again given me a Head and Shoulder Pattern which has a Neckline (Obviously) which must be broken and retested before the market can continue for a pattern completion...
S, should the market follow my plan as outlined, i will buy EURUSD on the Break and Retest and go for the Key level on High...
On 1h/4hourly TIME FRAME, there's this ascending channel channel which has had 2 touches on ascending trendline (Support Trendline) and is currently heading towards a 3rd touch...For now, there's a correction which has developed as the market has tested the horizontal support line twice after breaking it as it was acting as my Resistant zone...
...so the key level has been broken and retested...Now the market has again given me a Head and Shoulder Pattern which has a Neckline (Obviously) which must be broken and retested before the market can continue for a pattern completion...
S, should the market follow my plan as outlined, i will buy EURUSD on the Break and Retest and go for the Key level on High...