Above, we can see that price could be forming a possible head and shoulders pattern. The potential head and shoulders pattern will only be confirmed once price breaks below the higher low zone. However, if price doesn't break below the higher low we should have our sights on lower timeframes waiting for price to give us bullish entries.
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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.