It appears as though FFH is showing two alternatives, an H&S breaking down, or, sideways trading in a horizontal channel, with a breakout likely happening early 2024.
A horizontal channel is a neutral chart pattern that marks investor indecision. Buyers and sellers fight, and it is only at the exit of the horizontal channel that they agree on a direction; either there are more buyers than sellers or there are more sellers than buyers; hence the strong force of the movement at the horizontal channel’s exit.