short is the best position we can open after breakout the neckline of the head and shoulder pattern, any way the trend on daily time frame still down so we are in right direction till now and specially there is no sign or formation of reversal pattern, we can put a stop loss just above the right shoulder, GOOD LUCK
if we take a look at weekly time frame, we can see that the price touch the 50% fibonnaci level of the main down trend, so i think that the correction will end soon and the trend will be back again DOWN .... on daily time frame i notice a good divergence sign, that is mean that the up trend (correction) become weak ...
when the price broke the green triangle down , it come again up to retest support broken and turn it to resistance , now when we give a look at the red triangle we can see that it play like a resistance and support and we have to wait until the price decide in witch direction it will break the triangle
a flag pattern formed after a down rally announced a correction move, but now the price breakout the pattern to go again and follow its main trend (down) , i think its a very good point to open sell position like a intraday trading
doji candle on the resistance channel line with a regular divergence on the MACD indicator, make us thinking about correction wave can occur in the next period especially when we know that this zone is a zone of 50% fibonacci on monthly time frame
confirmation on daily or even 4h time frame by forming reversal ...
on weekly time frame we can notice that the trend is still UP , the price now is on both support zone (up channel & horizontal support zone).
today is 30/08 , so the last candlestick closed by forming a PIN BAR