In the previous post we mentioned that a double top pattern had been created in the supply zone and if the neck line had been broken price would drop to a certain point.
I see now that the neck line has not been broken so far and a higher top has been created instead, preparing for a head & shoulder pattern with respect to the same neck line.
So the same scenario is valid but with a different pattern, if the neck line is broken with a full candle on the 4 hours frame then I expect the price to drop to the nearest moving average or swing low
DO NOT ENTER THE TRADE WITHOUT PROPER RISK MANAGEMENT
I see now that the neck line has not been broken so far and a higher top has been created instead, preparing for a head & shoulder pattern with respect to the same neck line.
So the same scenario is valid but with a different pattern, if the neck line is broken with a full candle on the 4 hours frame then I expect the price to drop to the nearest moving average or swing low
DO NOT ENTER THE TRADE WITHOUT PROPER RISK MANAGEMENT
