EURUSD - 4 Hour Chart
On the 4 hour chart we can see potential for a head and shoulders forming within the 'golden zone' of the fibonacci, between 61.8% and 78.6%.
Will be watching this area for clear confirmations of a reversal before taking the trade. When looking for a take profit or stop loss. Will be targeting the -27% extension for first TP and the -61.8% extension for take profit 2. For the stop loss place it above the previous high.
Remember this is only an idea and in no way constitutes investment advice.
On the 4 hour chart we can see potential for a head and shoulders forming within the 'golden zone' of the fibonacci, between 61.8% and 78.6%.
Will be watching this area for clear confirmations of a reversal before taking the trade. When looking for a take profit or stop loss. Will be targeting the -27% extension for first TP and the -61.8% extension for take profit 2. For the stop loss place it above the previous high.
Remember this is only an idea and in no way constitutes investment advice.