Art_of_Trading
Short

EURUSD: Triangle + Head & Shoulders

FX:EURUSD   Euro Fx/U.S. Dollar
Its Monday Morning; Investors and Traders are ready to make their decisions, however, they await big players to make their moves first. So, I do not expect volatile moves today, big moves mostly happens when the London Seasons opens on Monday.

However, there is a nice opportunity to grab some nice profits from today's set up. After strong price drop, the price entered a consolidation zone, which formed a triangle pattern. In addition, there is the head & shoulders. It is not a perfect pattern, as they are shown on textbooks, but it worth analyzing, because breakout is expected on the same level as triangle breakout.

It would be wise to await the breakout to be tested on key zone, close to 1. 1343             , it gives extra confirmation to go short.
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jdelcura
a year ago
Head and shoulders still valid ins't it?
Reply
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