Resistance up at 0.728 - high of 25/11/2016 LSh (see below) and high of 15/12/2015. Xmas Head & Shoulders pattern. Sell break of bullish TL set up from 17/12/2015 Trade: Short @ break of 0.7253, SL 0.7284, TP1 0.7123 Look to add/enter into bearish TL set up on 15min stochastic
Bear - Double top 04/12/2015*, Bear - Head & Shoulders (~3 weeks) LSh 25/11/2015, Head 04/12/2015* RSh 10/12/2015, Neckline break 13/12/2015 Bear - Head & Shoulders (~1 day)
Note Bull - Long term bear TL eroded (05/09/2014, 14/05/2015, 12/10/2015)
Comment
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15 min stochastic, K value, above 50 and approaching bearish TL
Trade active
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Sold 0.7253
Comment
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Added to Short at 0.727, SL 0.7285
Trade closed: stop reached
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Stopped out at 7285. There was a final rally up to the right shoulder (7326) before falling over.