US30 Head and Shoulder formation 4hr! SHORT

١١ أبريل ٢٠٢٢

On the daily timeframe price action has retraced from its all time high at exactly the Golden Pocket of .618-.65 Fibonacci levels. I have used that fact to determine my directional bias for the week/weeks to come. If you zoom in to the 4hr time frame you can see a Head and left shoulder already formed, we are currently in the right shoulder. Head and shoulders is a bearish pattern in confluence with the Golden Pocket.