capsule91

Dangerous Right shoulder of ETHEUR

KRAKEN:ETHEUR   Ethereum / Euro
1. Classical Head and shoulder pattern best visualized in weekly
2. Bearish Rsi divergence continues
3.Possible reversal and a Bearish cypher Formation
4.Reversal of right shoulder can occur on completion of the cypher at weekly resistance level/PRZ , or more likely at reciprocal AB=CD level which is also a weekly resistance on the traditional pivot system
5.Expected downside from the head and shoulder is the weekly Support ..


Note.. this is not a time bound analysis..

Disclaimer.. not for trading/investing advice..
Mar 21
Comment: Correction, the bearish divergence had ended and a Bullish reverse divergence is in shape now and validates the possibility of the formation of the right shoulder....
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