At the daily high we see a head and shoulder pattern being printed. But we need to note that the "shoulder 2" did not respect the shoulder level printed by the shoulder 1. This means that we could revisit this level.
After a impulsive bearish candle we see the start of a ABC correction being started. At this moment we have the A printed at the local high, now we see the B at the local low.
When we draw the fib retracement from the A to the 0, then we can clearly see the confluence between the -0.68 take profit level and the shoulder 1 we are suppose to revisit.
The possibility is still there that we could revisit the local low (B) printing a double bottom. This is what we saw today -> looking for the first signs of reversal on the lower timeframes
