GU

GU formed nice H&S after a 5-wave run up. I was expecting it to break the neckline and make a pullback, but it just dropped instead making a good 35 pips run by the time I've posted this. The pic explains everything.

I have two possibilities to consider:

1. We didn't have a pullback due to the divergence on higher TF MACD which gave the strength to the price to drop straight down.

2. The model formed right to the opening time of Frankfurt session, where the crowd saw it and played it driving the prices down without any pullbacks.