We identified a potential Head and Shoulders (H&S) bearish reversal pattern forming, which signifies a potential trend reversal from bullish to bearish. Should the price decisively breach the pattern's neckline downward, it would confirm the pattern's activation, with the objective target delineated on the provided chart.
t is noteworthy that the formation's right shoulder may extend; thus, if the price sustains within the designated distribution zone, the pattern's predictive validity remains intact.
However, a price closure above the $117 threshold would negate the bearish thesis, rendering the sell-off strategy invalid.
Exercising diligence and closely monitor the two pivotal levels: the neckline and the upper boundary of the sell-off zone.
Contributions and insights on this analysis are welcomed and valued.
t is noteworthy that the formation's right shoulder may extend; thus, if the price sustains within the designated distribution zone, the pattern's predictive validity remains intact.
However, a price closure above the $117 threshold would negate the bearish thesis, rendering the sell-off strategy invalid.
Exercising diligence and closely monitor the two pivotal levels: the neckline and the upper boundary of the sell-off zone.
Contributions and insights on this analysis are welcomed and valued.
Trade closed: target reached
Short idea clear it's target
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📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.