Possible H&S?
Hi ladies and gents,
There might be a possible head and shoulders in play. The left shoulder did not cross the 0.5 retracement so imo the pattern is still valid. We just need to wait and see if the right shoulder forms, and if it does, it should not cross the 0.5 fib either.
Furthermore, why I think there needs to be a retrace up is the the gap down from yesterday ideally needs to be filled.
Enjoy the weekend!
There might be a possible head and shoulders in play. The left shoulder did not cross the 0.5 retracement so imo the pattern is still valid. We just need to wait and see if the right shoulder forms, and if it does, it should not cross the 0.5 fib either.
Furthermore, why I think there needs to be a retrace up is the the gap down from yesterday ideally needs to be filled.
Enjoy the weekend!
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