Here on the 8-hour time frame, we can see that after an impulsive bullish
move price made a head and shoulders
pattern which signaled a bearish
price reversal. After price made a break out from the neckline, it formed a bullish
corrective pattern in the form of a rising wedge
. Now, the price is looking to retest the 61.80% Fibonacci retracement
level before continuing to the downside.