Possible head and shoulders forming

5 Tem 2018

For a long time I've been Bear-biased on EURUSD, but it seems that we might just have a head and shoulder forming within the triangle.

Possible trading options would be to buy low @ 1.16500 or sell high @ 1.19000. Both require patience and a good entry point.

For the buy:
TP1: 1.17600
TP2: 1.19500
SL: 1.15700

For the sell:
TP1: 1.17600
TP2: 1.15000
SL: 1.19500

5 Tem 2018

Not

Scenario #!:
Small movement, short term, ranging downwards.

5 Tem 2018

Not

Scenario #2:
Large movement, long term, completion of overall head and shoulders pattern.

5 Tem 2018

Not

Either way, I believe we can expect price action towards 1.17600.

NFP day tomorrow might just catalyze the whole process.

7 Tem 2018

Not

38.2 Fibo line not broken. Scenario #1 more possible

9 Tem 2018

Not

1.17660 reached. Bearish movement inbound if the market plays along.

9 Tem 2018

Not

Bearish movement confirmed.

9 Tem 2018

Not

Nice quick 40 pip downwards move from EURUSD. Looks like the currency is right on track for the head and shoulders. Next-up; Draghi speaks.

10 Tem 2018

Not

Very decent 100 pip move down to the support level.

10 Tem 2018

Not

Price currently testing old support/new resistance,
Two possible scenarios to follow:

10 Tem 2018

İşlem aktif

14 Tem 2018

İşlem kapandı: hedefe ulaştı

First target reached! Confirmation of first shoulder.