EUR/USD Sell Explanation

Hi All ,

this is to explain my post on EU Sell trade . as you can see price is within a range and we have sold from the top of the range where we have the right shoulder of an inverse H&S forming . Earlier today we could have TP with 15-20pips but we didn't as i reverse to my sl and give it more room for this analysis to play out .

There's a possibilities of a fake breakout of the top of the range , before a pull back down to the first highlighted price label of tp1 . Tomorrow we have the monetary policy meeting , which would help move the right shoulder before non farm on Friday.

Many Thanks.

Comment:

Also guys , Just to add, Just because we have an Inverse H&S doesn't mean price would pullback up from end of the first right leg , That support might be broken and throw the H&S out the window . Also that support might hold and price might push up to 1.126-128 region before ECB meetings tomorrow.

SL into profit and sit back and relax . Goodnight .

Comment:

So Guys ,

as you can see that support line did eventually held , So taking profit at TP1 on my Analysis was vital .

Now It looks like the H&S is forming , but looking at the chart , There's not enough buyers, to push the price back to my point of interest 1.12506 . I have to wait till after Non farm for more direction.

I have no positions on EU . Trend is still Bearish !> Range.

Stay tuned :)