$AE, H&S Retest…

Looking at our trend timeframe we see price continuing to respect our downtrend, stochastic rsi showing momentum in favor of bears no signs of reversal. Left shoulder Aug 16, Head September 13, and Right shoulder September 29. Expecting price to retest our H&S support zone at 1520, if momentum picks up expect our sell off to continue towards 1400.

Shifting over to our pattern timeframe we see AE has found resistance at 1680 after breaking out from 1500 zone. Stochastic RSI showing momentum in favor of bears with no signs of reversal, expecting price to test our dynamic support at 1520. A 4Hour close above 1600 activates our trade, other wise waiting for a drop towards 1500.

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