Price has now traded the first target of ABCD pattern that was
completed Apr 4 and is standing close to the horizontal neckline
of the H & S pattern at 1,5025-30. The mini target of the whole
ABCD stands at 1,5120 level. Technically, A retest of the neckline
will either confirm or reject the H & S pattern. Selling into
this S/R zone, stops needs to be placed above the 1,5120
level, targeting the 1,4220 level.
completed Apr 4 and is standing close to the horizontal neckline
of the H & S pattern at 1,5025-30. The mini target of the whole
ABCD stands at 1,5120 level. Technically, A retest of the neckline
will either confirm or reject the H & S pattern. Selling into
this S/R zone, stops needs to be placed above the 1,5120
level, targeting the 1,4220 level.