On the 4h chart, we see a shapely head and shoulders figure.
If the price breaks the support level of 1.5220, 200MA and Fibo 0.5, the trend reversing figure will be confirmed and we can benefit by joining SHORT. DeMark also indicates a possible entry into the oversold area, which is for sale.
SL – above broken support.
An alternative scenario is not to complete the figure if the price jumps and breaks 50MA and the downward trend line.
Trader Georgi Bozhidarov