fvadet

EUR/USD Potential SHS pattern

Short
fvadet Updated   
FX:EURUSD   Euro / U.S. Dollar
If the larger SHS emerges then a short with very tight SL (just above the top-trendline down). Target could be fib 55 / or buttom trendline.
Maybe this could be Wave 1 and Wave 2 as well... then hitting buttom trendline could indicate long wave 3 take it to fib 161
Trade active:
It turned just under expected, but matching a significent low from june 2010.
Next critical point - crosing the neckline to complete the SHS
Comment:
Finally the orange Head & Shoulder have been compleated... lets fall some more, then back up to confirm neckline and then down.
Comment:
Awaiting a test of the neckline to confirm Head & Shoulder pattern and I will add to my position - could be 1.166 to 1.72
Comment:
Added to my short
Comment:
SL moves closer to neckline during today
Trade active:
Adding to my short 1,164
Trade active:
Adding to my short at 1,172 ish
The 1,164 part of the position hit it's SL sometime ago
Trade active:
1,172 ish was not the best idea and fairly quickly hit it's SL
I'm on it again though with a new short at 1,1845 and of cause with SL set
Comment:
Need to see the turn down very soon or the overall trade will hit is's SL
Trade active:
Added to my short 1,185 tight SL as always
Trade closed: stop reached
Comment:
Mostly profit, but not fully as planned... maybe it's an IHS now...
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