Head and shoulders pattern, gone short target 146.44 good luck all
at the moment this move looks hyper extended, but it signals a ascending triangle formation the break above saw no follow through, i would wait for a re-test of 146.80 - 90 region and take a 2nd long position, I've already bought in at 146.60 and stop is at 146.70 on this trade. This might take awhile to pullback, many are not favorable for going long, as...
EURUSD is on a super long down trend, and this might play out from today till the end of the week with Draghi on the wires in a few minutes. I'll take a 2nd short position on the break of 1.2480 level, looking at 1:1 RR, then would adjust accordingly to 1.2244 as final target, will re-look when hit. i'm already short from London's open at 1.5387 Good luck all.
Stuck in an upward consolidation phase on the H1, will confirm long position above resistance as shown.
Head and shoulder pattern formation suggests an upside risk to 138.30, Good risk to reward ratio. Stop at 136.58. A trade i would take any day!