PRICE ACTION:
• In an uptrend, price action finds first resistance (1) that forms left shoulder's high, where it
reverse direction and goes downwards till finding support (2), completing the left shoulder
formation.
• Price action reverses direction from that support (2) and goes upwards till finding second
resistance (3) that forms head's high, where it reverses direction and goes downwards till
finding support (4), completing the head formation.
• Price action reverses direction from the last support (4) and goes upwards till finding third
resistance (5) that forms right shoulder's high, where it reverses direction going
downwards.
• The pattern is completed when price action breaks the neckline at point (6) downwards.
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• In an uptrend, price action finds first resistance (1) that forms left shoulder's high, where it
reverse direction and goes downwards till finding support (2), completing the left shoulder
formation.
• Price action reverses direction from that support (2) and goes upwards till finding second
resistance (3) that forms head's high, where it reverses direction and goes downwards till
finding support (4), completing the head formation.
• Price action reverses direction from the last support (4) and goes upwards till finding third
resistance (5) that forms right shoulder's high, where it reverses direction going
downwards.
• The pattern is completed when price action breaks the neckline at point (6) downwards.
Hello Traders 👋If you find this analysis useful, please support me with your likes and comments.
If you have another analysis at this pair, please share in comments, I will be glad to discuss with you.