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Fxprotrader
Jun 27, 2018 6:20 AM

EURUSD: Nice Sell Opportunity Short

Euro Fx/U.S. DollarFXCM

Description

Price is being forming a head and shoulders pattern at a key resistance structure level. Selling the breakout of the neckline is a nice idea

Structure Level:

Trade active

Price broke the neckline of the pattern. Trade is now active with sell orders getting filled and already being "green". Let's see how this goes :)

Comment

Comment

Price is dropping for goof snd we are in good profit. Moving your stoploss at breakeven is what we should do and enjoy s risk free trade

Trade closed: target reached

Price reached our initial tp :)
Comments
arif_awan
ranksama
New update, i took a whopping 3.5k profit :)). THANK YOU SO MUCH
Fxprotrader
@ranksama, Well done mate..!!!
ranksama
Sorry for being annoying but what would of place the target for H&S? I'm a newbie haha
Chimbarosa
@ranksama, Follow the white rabbit in this case the black arrow…
ranksama
@Chimbarosa, so 1.155?
Chimbarosa
@ranksama, He indicates that in a perfect world the perfect TP would be 1.54. Unfortunately we do not live in a perfect world. Hence try to define your own TP 1-3 and before entering into a trade try to define your SL. If you have not done so far, do not JUST trade - try to read as many trades of well established traders as possible and try to understand the different trading styles of the different traders. Drive save!
Fxprotrader
@Chimbarosa, Great comment..!
Fxprotrader
@ranksama, I always set tp and sl based on structure levels (using median line analysis). In this trade I trully believe that price will reach the sliding parallel as shown in the chart (arrow). A nice strategy is to move your stops when in good profit. Place them in breakeven, and sit back for a risk free trade. You either make money, or lose nothing.
ranksama
@Fxprotrader, thank you so much for helping me and showing me this pattern :). Right now I'm sitting at 500$ green thanks to you :))))))
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