In this example price shows than even if you get a chart
pattern in-between price may not necessarily move in that direction
for a prolonged period of time. Price formed a head and shoulders pattern,
headed to a level of previous resistance.
(*not the exact previous resistance but a former one within the range)
Before following with upward momentum at a 61.8 retracement 4H level
with a a bullish engulfing candle confirming continuous movement to the upside
pattern in-between price may not necessarily move in that direction
for a prolonged period of time. Price formed a head and shoulders pattern,
headed to a level of previous resistance.
(*not the exact previous resistance but a former one within the range)
Before following with upward momentum at a 61.8 retracement 4H level
with a a bullish engulfing candle confirming continuous movement to the upside