EUR/USD Head & Shoulders neckline break Hello. Waiting for EUR/USD to bounce and retest the neckline before I enter short.
This one seems like it may stall at 1.1150, so I'm keeping an eye on it. I'll set an alert for 1.1197, so I'm aware of price pushing back up.
My stop would be at 1.1160 ( approximately 65 pip stop). I would risk 1% of my equity, which would be $200. The measured move takes us down to 1.0969, for a possible pip profit of 228. That would be a 3.5 : 1 Reward to Risk ratio.
Please feel free to comment and let me know your thoughts.
