A Head and Shoulder Pattern is formed on a 30 min time frame in the security. A breakout was seen in the security and within the breakout after a few candles the price retrace back into the pattern.

There is an opportunity to enter in the pair after the breakout. We can expect the pair to again break on the downside. A crossover is seen in the pair on the downside which indicates negative direction in the pair. The Pair closing below both the EMA would be an added confirmation on the downside.

HEAD AND SHOULDER

Sep 03 2022