DonDimadjo

Head-and-shoulders pattern - EUR/USD

Short
FX:EURUSD   Euro / U.S. Dollar
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Spot on - Head-and-shoulders pattern formed. Crown formation becomes clearly visible now and if we get a 1hr candle closed below neckline (1.3084), we are up for a reversal. Also mind that we've seen a lot of going up in the last few days but now the 20 EMA (light blue on the chart), which supported the move up solidly for the last 2 days got broken, and if we get the neckline of the head&shoulders pattern broken too (and hourly candle closed below), we are way up for the reversal. I'm short from 1.3108 with a stop loss at break even now.

Comments

spot on! we are in a sell mode now. next target 1.2802 / 1.2761
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hard to break and close below the neckline (support) level of 1.3084. I was hit at break even and staying aside ever since.
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