I am waiting for confirmation on the head and shoulders to complete its formation.If it does I expect a short position.
Reasons for entry will be :
1.Break of the trendline after a triple touch.
2.The head shoulders that are forming.
3.The head and shoulders target from head to neckline confluences with the next weekly support line.
4.Fib retracement shows target at 38.2% that confluences with the H&S target.
Reasons for entry will be :
1.Break of the trendline after a triple touch.
2.The head shoulders that are forming.
3.The head and shoulders target from head to neckline confluences with the next weekly support line.
4.Fib retracement shows target at 38.2% that confluences with the H&S target.