Update:
Still following the 4hr head and shoulders. The market completed the right shoulder last week.
EU has confirmed a SELL position by retesting the previous resistance level. and rejecting.
If the price manages to remain bearish... continue to sell. I was patient enough to get a really solid entry on the 4th retest to the Bullish trend line.
BULLS:
(orange lines) Yes, the trend lines are pointed downward. A downward wedge only means that the price can always reverse.
BEARS:
EU just rejected from a cup and handle. If this heads and shoulder is a true reversal then the wedge will break and retest towards lower lows.
Still following the 4hr head and shoulders. The market completed the right shoulder last week.
EU has confirmed a SELL position by retesting the previous resistance level. and rejecting.
If the price manages to remain bearish... continue to sell. I was patient enough to get a really solid entry on the 4th retest to the Bullish trend line.
BULLS:
(orange lines) Yes, the trend lines are pointed downward. A downward wedge only means that the price can always reverse.
BEARS:
EU just rejected from a cup and handle. If this heads and shoulder is a true reversal then the wedge will break and retest towards lower lows.