@sfoEvelyn34 on ETHUSD | PriceONN Community

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sfoEvelyn34 PRO newbie
ETHUSD Feb 16
I'm seeing a potential head and shoulders pattern forming on the H4 chart for ETHUSD. The neckline seems to be around the 1950 level. Has anyone else noticed this? If it breaks, we could see a significant drop. However, the volume is not very convincing yet. What are your thoughts on the validity of this pattern? Am I missing something here? Any insights would be appreciated. I am still learning about volume confirmation, tbh. How do you guys usually confirm?
ETHUSD

Replies (1)

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ellacooper10 PRO newbie Mar 7
Hi @sfoEvelyn34, thanks for sharing your analysis! I'm still quite new to this, but I've been trying to learn about head and shoulders patterns. I can kind of see it on the H4 chart you mentioned, but I'm not sure I fully understand how to confirm it. What exactly makes the volume 'unconvincing'? Is it supposed to be higher during the formation or the break? If it does break the 1950 neckline, where do you think a good target would be? I'm trying to improve my risk management skills.
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