WLD Potential Head-and-Shoulders Pattern Suggesting Pullback to

The WLD/USDT daily chart appears to be forming a potential Head-and-Shoulders pattern, a bearish reversal signal. This suggests a possible price decline toward the key trendline and support zone.

Key Observations:
Head-and-Shoulders Formation:
Left Shoulder: Formed during the initial rise.
Head: Peak of the recent rally.
Right Shoulder: Currently forming, indicating weakening bullish momentum.
Support Zone: A pullback to the green upward trendline near 2.10–2.15 is likely, aligning with the highlighted support box.
Bollinger Bands: The middle band (moving average) is acting as a potential dynamic support during this pullback.
Trade Plan:
Entry Strategy:

Enter a long position in the support range between 2.10–2.15, observing for a bounce with confirmation from bullish candlestick patterns.
Alternatively, consider shorting upon a break below 2.10, targeting deeper support.
Stop Loss:

Long Position: Place stop loss below 2.00.
Short Position: Set stop loss above 2.25 if the support breaks.
Take Profit Levels:

First Target: 2.30–2.35 (resistance from the right shoulder).
Second Target: 2.40–2.50 (higher Bollinger Band zone if bullish reversal occurs).
This setup hinges on price respecting the trendline. Monitor for increased volume during a potential breakout or reversal for better confirmation.