Hello everyone. Here we have a head and shoulders pattern on the GU hourly chart. So let's make some conclusions. First of all, if the pattern starts working, we could see the price reach the level of 1.2150 (this would be the minimum target of the pattern, if we measure AB-CD swings). But we don't know if it will work, that is, no one knows. But one thing can help us, and that is the daily closing price. If we see the price closes above the h&s neckline (on a daily closing basis), we can use the nearest retracement on the lower TF and enter LONG. I usually prefer to trade h&s in a way that I enter the position at the beginning of the formation of the right shoulder, in this case you always have time to move the stop to the BE, so you can reduce losses or even secure some profit, even if the pattern fails. So if you don't have a long position yet, the daily closing price is your first assistant. If we don't get that, and if we see the falling pattern, this is also an important information where we should look for opportunities to enter short. Keep in mind that next week we have the Fed interest rate decision, so volatility is expected.