Head and shoulders pattern seems to be forming on the 4hr time frame. Weekly chart shows a somewhat ranging market and daily chart is at a support zone. Seems right for the pickings. Let's see how this one go. First TP should be around the neckline area, second TP if pattern continues to form and break through neckline, ride it up to support.
Watch the close of the daily candle today. Once it closes above trend line, it will present a long bias that will most likely form a head and shoulders pattern. Stay Tuned
Weekly chart shows an Upward wave
Head and Shoulders pattern. Larger time frames show correction wave for downside continuation and a Ranging Market. Sell With caution.
If price breaks the line, This is a standard wave formation to support. I have executed this trade one week ago, and was too lazy to post it, but this is too much of a good opportunity not to share. Enjoy the trade Everybody!! Currently in profit 150 PIPs
Keep stop loss tight. Enjoy the ride down!
Stoploss and TP on the chart. Wait to see if the 4HR candle closes from the evening star pattern.
Down we go everybody. Stop loss should be placed above the turn around point
Is the break going to happen or will we get a reverse in this key zone!? Comment your thoughts
Take profits zone 1.3650-1.3700. Stop Loss - 1.3100
I'm a little late with the drawing. This trade is already active. Stop loss should go above the zone that broke. Take profit, blue rectangle area. Enjoy.
Classic Head & Shoulders Pattern. If neck trend line breaks,wait for the correction, BUY and Enjoy the Profit! SL should go under correction on trend line violation
Classic Head & Shoulders Pattern. Buy the correction if price breaks neckline and Enjoy the profits! SL should be placed under the correction upon trendline violation.