Chart Pattern: Head and shoulders

30 min: Engulfing candletick
1 hour: Bullish candle could not close above the previous bearish candle.

Yorum:

4 hour chart:
- 1st shoulder shows an engulfing bearish candle. It indicates trend is about to change
- at the head level, the bearish candle with a relatively long wick is formed as a result of the downward pressure from the sellers.
- the second shoulder, once again, confirmed the change in trend with a harami candle

As a whole, the head and shoulders pattern is formed