Simple H&S setup, currently the Right Shoulder is forming and showing nice rejection off the minor resistance, (same resistance level of the Left Shoulder). After price hits the neckline we are in for some money all the way down to TP and even as far as TP2 if momentum remains strong and bearish.
The bears are definitely in control of this market. Price has made its way back up to former support and can be now identified as resistance. What makes this setup so attractive is the fact that there is a "Shooting Star". With this retest we can be sure to enter short positions and ride all the way down to the 1.68000 area.
