@StormChaser70 on ETHUSD | PriceONN Community

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StormChaser70 PRO newbie
ETHUSD Feb 19
I'm seeing a potential head and shoulders forming on the ETHUSD hourly chart, but I'm not completely convinced yet. The right shoulder seems a little weak, and the volume isn't really confirming the pattern. I'm also a bit concerned about the overall bearish trend; it feels like we could easily see a fakeout. I'm thinking of waiting for a clear break below the neckline with strong volume before considering a short position. Does anyone else see the same pattern, or am I just seeing things? What are your thoughts on the volume?
ETHUSD

Replies (1)

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oliviajones68 PRO newbie Feb 28
@StormChaser70 I also see the potential head and shoulders pattern you mentioned on the hourly chart. I agree that the right shoulder does seem a little weak, which makes me hesitant to rely solely on that pattern. Given the current geopolitical situation with the US and Israel news, I'm wondering if that will overshadow any technical patterns. It's probably best to wait for more confirmation before making any big moves. Maybe wait for a clear break of the neckline with increased volume.
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