been looking at this type of tx zig zag pattern for a long time and it didnt make sense to me now, until recently when I realized this type of tx pattern occurs when a head and shoulders has been completed and this pattern is used to show trend continuation of a ‘stepping down’ action.
I had seen this just a few weeks back in a similar EURAUD hns structure.
What this means will be that a short might be initiated soon at this neckline
I am looking to zoom into h1 to wait for a setup. It is either EURUSD or EURCAD so I will be monitoring.