We are looking at a possible 5th wave formation here but also bearing in mind that the bearish trend may continue for a longer term. Therefore a confirmation would be needed before picking an entry direction
After getting stopped out from our previous entry position, we have another chance to enter the trades again as price approaches another resistance.
There are two entry options here.
1) An entry at current market price for an aggresive entry
2) An antry at the break of Ascending trendline for a conservative entry.
You can pick one or use the two for scale in...
Expecting a retest at this Lower High region 0.72500 before seeing a bullish breakout for a bullish continuation of price to complete the heads and shoulders target But if price breaks through, ill be expecting a drop back to the previous low 0.7100