DislikedI'm still lurking on here and trying to work out why the bias to the downside? I can see the H&S on the daily but given price could not close below the weekly LCS (8226) I'm struggling to rationalise a break to the down side?
Any feedback, as always, greatly appreciated.Ignored
It isn't that I know for sure that price is going down, what this gives me is a PRIME area to watch for further information. Until that neckline gives it is support, but based on that overall pattern I showed + the downtrend this level looks like it needs to break. And even if it breaks doesn't mean price has to go down. But the confluence at this area gives me prime location to watch for further PA or signals and use that confluence to execute a potential trade. The market looks heavy and I would not be surprised to see us retest the lows from early this year.
Hope that helps