Quote Originally Posted by ;
Now has the capability to turn into an inverted head and shoulders. Would want to reclaim at 149.8 ish to validate the procedure is underway.
Possible inverted and cancel HS as seen on 4hr/daily. Top TL in 150.2 roughly. Upon clearing 150.3, Potential retest into place in 150.5 ~150.7/8. Strong split above 150.9 may be handy.

Height circa 530 pips.

Potential targets (should it remain intact and is, in fact, an inverse hs) are (1) height x 0.618 above 150.2 = 153.2/3 (2) height plus 530 (height) above 150.2 = 155.3 (3) In expansion, height X 1.618 above 150.2 = 158.5 ish


Either way, it loses the chance to be a small 4th wave correction upon passing 151.3, even though 151.6 has considerable resistance right now.