In EURCHF chart we almost cmompleted Head n Shoulders formation. We are shortyl below right shoulder and can expect further bearish formation when formation will be completed.
Now we got 2 options:
Option 1:
Wait till formation will get more clear (Sell area 1). Its more risky, because formation is not completed, but we have a good chance that this will happen. Stop: Close above right Shoulder. Target: Smaller targets will be updated, but when formation is completed we got the chance of a real dump
Option 2:
Wait till formation is completed. (Sell area around 1.135). Stop and Targets are the same like in Option 1, but RR is obvious smaller but safer.
Happy trading!
!! Mention: This is my personal opinion, no trading advice. Its your money, your trade, your risk and your responsibility. Feel free to contact me private for further details or just chatting. Regards
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First area to go short hitted ... could be a nice spot now
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Formation seems to get completed, opened more short positions now on every pullback