We have a downtrend from the 1.13 area to 1.0236, and within it there is the first shoulder, the head, and the second shoulder, which I believe has already formed. The red resistance at 1.0760 is the resistance neckline, which when broken will initiate a long position up to 1.13, the major zone of previous resistance
On the daily/4h time frame there is a resistance trendline, which when broken will signal that the second shoulder has indeed formed.
Additionally, a long position can be taken after the break of this resistance trendline. Remember to have a daily candle close above this, and watch for a retest to reinforce the long position from this 1.05 area.
On the daily/4h time frame there is a resistance trendline, which when broken will signal that the second shoulder has indeed formed.
Additionally, a long position can be taken after the break of this resistance trendline. Remember to have a daily candle close above this, and watch for a retest to reinforce the long position from this 1.05 area.