Bearish Head and Shoulders Top pattern Completed on 4HR time frame at the end of an upwards move, signalling a reversal.
The Negative Neckline was then Broken @1.24540.
Pullback formed towards the neckline, this is a .618 retracement of Swing High to Swing Low of Neckline Breaking move, the golden mean.
Equal Measured Move is Lining up with 1.68 Extension of Pullback towards neckline.
Entry reason after a Doji, LLLC for 3rd Chance entry on 1HR.
First Targets at 1.272 extention of pullback as structure is present at this level (1.23000 level) and 2nd targets at 1.618 extension of Pull Back. (1.22180)
Stops Average true range (26 pips) above pullback.
The Negative Neckline was then Broken @1.24540.
Pullback formed towards the neckline, this is a .618 retracement of Swing High to Swing Low of Neckline Breaking move, the golden mean.
Equal Measured Move is Lining up with 1.68 Extension of Pullback towards neckline.
Entry reason after a Doji, LLLC for 3rd Chance entry on 1HR.
First Targets at 1.272 extention of pullback as structure is present at this level (1.23000 level) and 2nd targets at 1.618 extension of Pull Back. (1.22180)
Stops Average true range (26 pips) above pullback.