Is this going to be an H&S Pattern play
This is not an H&S until price retrace back to $8200 (Tenkan-Sen) to from a Head and bounce back to form a right shoulder @ $8406. Then the big sell pressure down to $7922 (Kinjun- Sen or edge of the cloud) which is the expected H&S target.
Price will bounce back after H&S target is completed as there is always a price reversal at the end of this pattern.
MACD is getting bearish as well, with HISTOGRAM bar oscillating below zero; a bearish momentum signal.
Price will bounce back after H&S target is completed as there is always a price reversal at the end of this pattern.
MACD is getting bearish as well, with HISTOGRAM bar oscillating below zero; a bearish momentum signal.
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