Watch for the next few candles to determine validation of this pattern. Could be a significant downward move.
Good Luck!
Comments
AndrewHook
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Not so sure about the pattern. At the moment is quite difficult to see clearly where is the neckline. As well the 60 unit is too short to validate the head and shoulders pattern. As well the target downward is calculated taking the distance from the highest point of the head, then report it to the bottom, in this case around 1.54149. I might be wrong but if you look closer on a Day unit, you will see a Head and Shoulder reversal instead with the pullback on the neckline. Long ;-)
Dale_Ansel
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Looks like the head and shoulders completed, however didn't go the right way =/
Dale_Ansel
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no problem, appreciate the nice comment!
anvari
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great job. thx for you're work
adriel.arrasmith
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Just got short as well. That daily pin bar rejecting 1.568 is HUGE.