If the H&S neckline is broken, the price of
SISE
could move higher hitting the resistance zone at the small gap which might send the price back to retest the strength of the neckline.
SISE
could move higher hitting the resistance zone at the small gap which might send the price back to retest the strength of the neckline.
Comment:
Perfect hit! The price hit its resistance zone at the small gap and went back immediately to check the neckline, which also holds as support. If the price breaks the resistance zone upwards it would hit its first target at 7.50$-7.55$ levels. However, if the support doesn't hold, it would invalidate the pattern.
