Euro/Usd complete form Head And Shoulders reversal trend
Hi there ,
I was looking the EUR/USD -0.26% chart on weekly frame and i see Head & Shoulders reversal , we have two scenarios here , if the candle of week 24/09-29/09 close above the candle of last week probably we will touch the first resistance (light blue area) so for the daytraders maybe find little space for long positions until the price touch the resistance. In the second option the weekly candle of the coming week will not retest the resistance but it will fall down to 1.1646 (monthly support).
After we have that confirmation of where the price go we will put some real big short positions and we aim the first Target I in the price of 1.1446.
I want to put some more information , if you go to day frame you will see the red 'line' that i had drawn its the sell zone that we have reach 3 times but rejected. The price from Friday has sit just in the red 'line' in the spot of pair price that rejected 3 times maybe depends on volume of Monday , we wait the London session and NY to see how the market reacts and if smash the red resistance and go for the right shoulder , in some weeks probably it stands in lower points .
Thanks about the reading i feel cool to share my opinions with you . Your choice how to use this its just a vision .
J.V
I was looking the EUR/USD -0.26% chart on weekly frame and i see Head & Shoulders reversal , we have two scenarios here , if the candle of week 24/09-29/09 close above the candle of last week probably we will touch the first resistance (light blue area) so for the daytraders maybe find little space for long positions until the price touch the resistance. In the second option the weekly candle of the coming week will not retest the resistance but it will fall down to 1.1646 (monthly support).
After we have that confirmation of where the price go we will put some real big short positions and we aim the first Target I in the price of 1.1446.
I want to put some more information , if you go to day frame you will see the red 'line' that i had drawn its the sell zone that we have reach 3 times but rejected. The price from Friday has sit just in the red 'line' in the spot of pair price that rejected 3 times maybe depends on volume of Monday , we wait the London session and NY to see how the market reacts and if smash the red resistance and go for the right shoulder , in some weeks probably it stands in lower points .
Thanks about the reading i feel cool to share my opinions with you . Your choice how to use this its just a vision .
J.V
Comment:
THIS IS THE FIRST STEP OF MY FOREX EMPIRE !