EURCFH long term H&S

This looks like a long term trade setup. A big H&S that is in full play and at the moment the retest of the neckline is happening. From the looks it, seems like it is in a bearish wedge . I rather wait for an entry to where the blue line is going, because i think the price could still go there. But we need to see how this possible wedge works out. (this was from 2 days ago in a hidden idea)

Patience pays off, still not the perfect entry i hoped for, could still happen but looks like it is going to drop out of this channel soon. So would be a good one to short, start to scale in when the small trend line of the possible wedge breaks, even better, if the that green small green support breaks.

Comment:

So far it's going perfect, Still had some support at the green area, but after it broke it made a good drop. So the wedge seems to be valid, so we should just drop more the coming days. The plan is a long term short, so along the way we can start to increase the pos.

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Keeps on dropping, Target of the wedge is reached, long term target is not even close. I would use a tight trail stop for at least 50% of the pos now, can always buy back lower or higher.

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Still looking good, but i have to admit, i am having some doubts now. It was a bit strange that we dropped in a straight line to begin with. That in combination with this possible support line, there is a chance something else is going on here. So to be sure, what i would do is take at least 50% profit (if you have not already done that) and trail the remaining with a tight stop. This could still become a bear flag, but i have a feeling something else might be going on

Comment:

At the moment the bear flag looks real, still moving inside of it. This increases the chance that we might see follow through to the downside and that the possible support i talked about in the previous update, might just be temp.

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So the bear flag broke, but at the moment still some doubt. I am still getting a wedgy feeling about his wedge :). Whatever happens, it should not get above the red zone

Comment:

2 Simple choices here, take profit at this low or still use that orange as a stop. Still a realistic chance this wedge is valid.

Trade closed: target reached:

Today it opened higher and went back in the wedge again, increasing the chance it was a false break so it could just continue higher even the coming period. No clear signs now so best to wait for a better opportunity to trade it again.