Atypical H&S inverse pattern sitting on bottom trend line or building second of 5 legs in a triangle pattern - I am thinking it is in the beginning of a triangle pattern - target the closest at .9351, .9365 (ABCD pattern completion non extension) .9406 to .9415 - extension of ABCD pattern plus target of H&S then back to .9285 area -
Untraditional three drive pattern rise .88 fib - fall 1.12 fib - if the next two legs miss the specific fibs then the pattern is lost - see next daily chart for price targets
I do not want to buck trend - looking at merely a retrace - the extension fibs put price action at 1.61 fib and the projection fibs off of the 2 - 3 are past at 3.61 - sitting in a demand area - would be looking at an area of interest in the .8521 area which would be a retrace of .27 of the entire fall and a supply zone - if price fails at this area then the next...
See chart - the 4hr chart shows positive divergence on the RSI and price
Got to love those patterns within patterns