Following the Head and shoulders pattern break down, and perfectly respecting the slanted neckline, we have since seen further continuation to the downside.
Right now, we are seeing what I call a complex pullback which can be used to build a high probability entry zone.
First we have the Level of historic structure that has been respected more often than its been violated (when tested)
Second, we have the ABCD equal measured pullback
Third, we have a cluster of Fibonacci confluence including inversion, extension and retracement
Fourth, we have a test of the 2-/50 EMA zone
Nice level to enter short if you can get entry rules met.
Lets see what happens.
Good luck in the market this week.
Jason G
Right now, we are seeing what I call a complex pullback which can be used to build a high probability entry zone.
First we have the Level of historic structure that has been respected more often than its been violated (when tested)
Second, we have the ABCD equal measured pullback
Third, we have a cluster of Fibonacci confluence including inversion, extension and retracement
Fourth, we have a test of the 2-/50 EMA zone
Nice level to enter short if you can get entry rules met.
Lets see what happens.
Good luck in the market this week.
Jason G