1.First scenario is retest the trend line and come back lower
2.Second scenario is break the trend line, come up, create the right shoulder to finish creating a shoulder head shoulder formation
3.Third scenario, break the trend line, do not create the last shoulder, and break the resistance and go up, This third scenario I don't think is going to happen, because, in case of non forming the last shoulder, the price is very difficult to break the double top resistance, so, if price has to go up, first of all, it should create a third top, give a pullback and then , it could go up breaking the resistance.
After testing 117, I have said the opportunity was going long, and yes, I was right, going since 117$ to 134$.
I hope you're having nice trades.
I2MPCapital
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As we have tested 117 and we have rejected it, now the opportunity is going up, with the possibility of ending with the shoulder head shoulder and come lower, market bias is bearish
I hope you're having nice trades.