Head and shoulders Forming. Market Pullback?
Updated
Head and shoulders pattern seems to be forming on the 4hr time frame. Weekly chart shows a somewhat ranging market and daily chart is at a support zone. Seems right for the pickings. Let's see how this one go. First TP should be around the neckline area, second TP if pattern continues to form and break through neckline, ride it up to support.
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Nearing Neckline area. Get ready to lock In some profits. Keep an eye out on this key zone. If price breaks up from there, it should be an explosive move to the upside completing the pattern.Comment
Price action has invalidated my idea by forming a second mini shoulder. Profits locked. Trade close.Trade closed manually
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