EURUSD made a very nice breakout, but i think it will continue to fool everyone for a while longer. If you remember, my last post on EURUSD, i went long around the low, going against TA short and sentiment, for the reasons i mentioned back than. It took a while, but patience pays off sometimes.
On the right we can see an ugly inverse H&S that is about to fail it seems and turning into a ugly bearish wedge. Now it should stay below that red resistance. I think it will drop back into the range of the past months and probably around that blue circle turn up again. But that is getting ahead of things. First goal is around the yellow circle. If that hits, i will keep half for the blue circle. The red circle indicates a small bull trap to me.
Previous analysis (of the bear trap move):
On the right we can see an ugly inverse H&S that is about to fail it seems and turning into a ugly bearish wedge. Now it should stay below that red resistance. I think it will drop back into the range of the past months and probably around that blue circle turn up again. But that is getting ahead of things. First goal is around the yellow circle. If that hits, i will keep half for the blue circle. The red circle indicates a small bull trap to me.
Previous analysis (of the bear trap move):
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lol :)
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Maybe we could see something like this now
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