Head and Shoulder spotted in nifty 1 hr time frame

Greetings, esteemed individuals! As illustrated in the aforementioned chart, it becomes evident that the Nifty is in the process of shaping a Head and Shoulders pattern, indicating a potential target of 17800, accompanied by a recommended stop loss at 18200. Given the inherently risky nature of this trade, it is of paramount importance to exercise diligent risk management and adopt appropriate position sizing strategies. Furthermore, it is worth noting that prior to the breakdown, the price exhibited a favorable 50% retracement, further augmenting our prospects.