Head and shoulders pattern on EURUSD
Updated
Take a look at the formation in white. Looks like a nice short opportunity soon.
Note
Trade is going just as planned. Now, I am waiting to see if we break the head and shoulders neckline. A break would mean further down or a potential retest of the break. Typically we break the neckline and continue further down. Lets see what happens.Note
Now another good entry point is on the break of the trendline with a tight stop loss or to be very safe, you could short on the retest of the breakline. Both requiring a tight stop loss because a fakeout could happen.Trade closed: stop reached
Stopped out on the retrace off the neckline bounce. Looking for rentry. Nice profit but could have been more with a neckline break! Still I am happy :D
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