jannatul96

EURUSD - H&S on 1W, looking for good entry on trendline retest

Short
FX:EURUSD   Euro / U.S. Dollar
A nice position/swing potential. A H&S pattern can be seen in the weekly chart targeting all the way to 2015 -17 support zone. 1:1 extension from this wave should take it to TP2 minimum. Green weekly candle could be a restest on the trendline

Even though closed price is at resistance zone, there may be further upside and I don't want to enter against the trend. I'm placing for a small entry below the 0.618 region with tight a SL. If price doesn't reach that high, I'll wait and enter on a confirmation of reversal

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.