


greig
We have a head and sholder... not a clean one but this would be a great P/L ratio profile.
We need to wait for a break on the up side and if there is not ... i will not take the position. The key is to be patient.
I think it is a good time to seel over here because first we see that the market is following the downtrend moving average and we see that it still holing this move over there. When the market will break the moving average on the up side it will probably be too late for a bear position.
Nice selling level because the eur is realy over bought on this pair. You can see on the char the two previous important level in the yellow box. On the hour chart the price seem to have some resistance to go higher.
Nice consolidation and followed by a breakout to the upside. I am long now.