Price was pushing upward, but momentum was already weakening. And now the structure became more clear: left shoulder, followed by the Head and a right shoulder.
Three attempts to push higher and each one weaker.
Price finally broke below the neckline and the entire Head and Shoulders structure is now active.
Once a neckline breaks, the probability strongly favors a continuation to the downside especially when the right shoulder is already showing lower highs. This is where the bearish scenario becomes obvious.
Three attempts to push higher and each one weaker.
Price finally broke below the neckline and the entire Head and Shoulders structure is now active.
Once a neckline breaks, the probability strongly favors a continuation to the downside especially when the right shoulder is already showing lower highs. This is where the bearish scenario becomes obvious.
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