We are at major long term resistance with a confluence of long term and a
But my longer time frame posts uploaded 4 days ago suggests it is a major level on the monthly charts, this pattern only confirms the HTF and gives a potentially tighter stop area..
Although these right shoulder stop areas are predictable and quite often run by stop hunters as everybody knows how they are traded
I would much rather short on a Cypher at 28020ish (supply level) with a stop above the head, as the head and shoulders traders get stopped out I will be selling to them and then positioned short with my stop above the swing high at 28595 or so which I think offers slightly better protection
Time will tell... can only show what is there now...