maybe double top, waiting now for bearish candle pattern.
itaskar
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i prefer scenario 2, looks like it's creating a pennant now
NizarRahalii
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nice idea itaskar , but i think that is nothing is clear until now , cause we have any breakout i can say that we have inverse H&S pattern and going against your idea , just put the chart on 1H time frame to be more clear and lets see :) any way nothing is clear i think so wait and see :)
itaskar
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you're right pal, i didn't see this, similar to situation gbpcad. thx for bringing more light into this correction. lets see what time will bring :)
ForceFollower
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Any way you draw the neck line, be it horizontal or sloped downward, it seems to be moving up. So your scenario1 looks more likely to me now.