Looks like the Head and shoulder formed really well., however the breakout of the neckline still needs to be confirmed.
It looks like Price is making a M as a additional confirmation to drop. we will only know when price is around 0.89000
and we need to wait to see what price action does.
If PA breaks the blue line, we are looking for a short of approx 170 pips which would also trigger our short for the H&S completion targeting 0.86 making this a 300 pip trade.
for the beginning of the week I expect price to drop since there is a large bearish engulfing on 4h.
It looks like Price is making a M as a additional confirmation to drop. we will only know when price is around 0.89000
and we need to wait to see what price action does.
If PA breaks the blue line, we are looking for a short of approx 170 pips which would also trigger our short for the H&S completion targeting 0.86 making this a 300 pip trade.
for the beginning of the week I expect price to drop since there is a large bearish engulfing on 4h.
