So this is an interesting one: a possible head and shoulders completion if price of course drops to 0.85204
At this moment we can see we are facing some major resistance at the 0.85633 level making it interesting to look for a opportunity to go short.
You might notice my neckline is pretty straight, personally I like to have it as horizontal as possible. On the 60 min chart this might look a bit strange as I seem to ignore some candles, but if you check the 240 min chart you will see I look at the close of the candles for this one.
This makes my overall potential profit a bit less then when taking the wicks but that is just something that works better for me :)
Good luck!
At this moment we can see we are facing some major resistance at the 0.85633 level making it interesting to look for a opportunity to go short.
You might notice my neckline is pretty straight, personally I like to have it as horizontal as possible. On the 60 min chart this might look a bit strange as I seem to ignore some candles, but if you check the 240 min chart you will see I look at the close of the candles for this one.
This makes my overall potential profit a bit less then when taking the wicks but that is just something that works better for me :)
Good luck!
Order cancelled:
As the price didn't hit our entry point and the head and shoulders is not valid anymore this trade setup has been cancelled
No entry, no trade, no loss :)
No entry, no trade, no loss :)
