I am sure everyone noticed that big head and shoulder. In my previous analysis, we were looking at a smaller head and shoulder (I kept it on this analysis for you to see it, in case you missed my previous analysis)
This will be a tricky trade:
A. If you are with me on this trade setup since the beginning of the month, then you must still have an open short position on EURUSD.
B. If you recently joined, I suggest not to take action and place any trade for now. Rather, I suggest you observe how will the market behave.
C. If the market retraces to previous structure support, which is now resistance, then we need to re-enter the market and sell!
D. If the market keeps moving down to our final target (from the previous analysis), then we will look to Buy because that level coincides with an AB=CD pattern completion, with an 1.618 Fib Extension and with a strong previous structure support.
If you have questions, let me know.
Best of Luck!
This will be a tricky trade:
A. If you are with me on this trade setup since the beginning of the month, then you must still have an open short position on EURUSD.
B. If you recently joined, I suggest not to take action and place any trade for now. Rather, I suggest you observe how will the market behave.
C. If the market retraces to previous structure support, which is now resistance, then we need to re-enter the market and sell!
D. If the market keeps moving down to our final target (from the previous analysis), then we will look to Buy because that level coincides with an AB=CD pattern completion, with an 1.618 Fib Extension and with a strong previous structure support.
If you have questions, let me know.
Best of Luck!
Comment:
*Price 1.16810
I apologize for not updating this earlier, I hope you are in this trade since Level 1.16810