ForexTradingZones
Long

EURUSD Inverse Head & Shoulder Setup for the bounce

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             Currently @1.3520 inside a wedge and developing an Inverse Head & Shoulders .

Waiting for a bounce of at least 20-30 pips from the current levels to the 1.3540-60.
Take in consideration we have a past support of 1.3475-85 level, so place your trend lines and take the break (counter trend) once we get the move to the upside.

Get your entry by going to the 60 min chart – and confirmation out of the 10-min. Always trade with price action and never trade without stops.

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alogg
2 years ago
Pretty!!!
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360
2 years ago
Hi, was curious about long, as i would prefer short, due to that engulfing candle on 4h... Also for a proper IH&S the right shoulder should be smaller than the left, which here is not the case. Looks like IH&S but when you draw the neckline you can see the size of the shoulders. Only my opinion. Let's wait it out :)
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ForexTradingZones 360
2 years ago
I did see the engulfing candle, absolutely. Will look into that IH&S comment, it's been a while I've been trading and haven't heard that before but thanks, will take it into consideration. As to my analysis, the SHORT would appeal to me once they break the 1.3490 candle they print last week but you can be right, there is a possibility of that outcome as well. Thanks for your comment.
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4xtr8r
2 years ago
Great chart. I'm long already a bit underwater but looking for 1.3575 area. Good luck. https://www.tradingview.com/e/SJAffw1l/
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