Description
⋅ From the Daily chart it appears that EURUSD has topped out. It appears that Head & Shoulders has formed (over 3 months or 13 weeks old).
Ideal entry would have been on the neckline B/O at 1.1660, but I was late to the party. But as they say, better late than never!
Short @ 1.16307 SL = 1.1710 Target 1 = 1.1450 Target 2 = 1.1285
Stop Loss has been set above resistance level off the 4H timeframe. It is more aggressive than a classical stop above the RHS shoulder.
Target 1 is nearest Support level and Target 2 is the next Support level plus potentially a UTL touch.
Let’s see how this trade plays out …
Happy Trading!
GG.