Head and shoulders pattern on EURUSD

Take a look at the formation in white. Looks like a nice short opportunity soon.

Comment:

Trade is going just as planned. Now, I am waiting to see if we break the head and shoulders neckline. A break would mean further down or a potential retest of the break. Typically we break the neckline and continue further down. Lets see what happens.

Comment:

Now another good entry point is on the break of the trendline with a tight stop loss or to be very safe, you could short on the retest of the breakline. Both requiring a tight stop loss because a fakeout could happen.

Trade closed: stop reached:

Stopped out on the retrace off the neckline bounce. Looking for rentry. Nice profit but could have been more with a neckline break! Still I am happy :D