After an explosive rally EURUSD has completed a head and shoulders pattern which signals us to keep a closer eye for going short. We should wait for price to break below the neckline of the pattern and watch for a sell setup.
MACD bearish divergence adds to my decision selling this pair..
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This pattern is no more valid.. I just posted a new post still waiting for reversal
This pair has been in a tight trading range since early 2015.
Lots of previous resistance levels around 1.14xx to be overcome before any significant move higher.
Fxprotrader
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Can you be more specific please? Is this analysis which is horrible, or that the price is still going up?
SAID
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Your analysis is fine , trend is still going up thats why im worried about , cz any up trend makes my loss more and more.. :/
Fxprotrader
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Oh i see..! I still believe it will reverse soon.. Where is your stoploss?
SAID
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I dont use stoploss i close every position with profit
mustard
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Interesting, we may have similar trading techniques since I do not use a stoploss either.
Did you ever trade using a stoploss?
I did for quite a number of years, then I carefully analysed all my previous losing trades and that changed everything.
SAID
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My idea is about stoploss, its the scum of brokers make you loss money ,cz trend moves are like bounce, if this week up next week down
So the best thing is being patient and close the position when in profit