Chimbarosa

Head And Shoulder pattern Completed; Next Days are D-Days

FOREXCOM:UDXUSD   None
After the "VIX triggered" correction in be beginning of February we saw typical Patterns incl. retracements etc. Now we have just completed the "Head And Shoulder" pattern and next week will unreveal if we have successfully entered a new bear market OR if the bulls will gain momentum again. While it was more or less obvious how to trade the correction and the HS pattern I personally will be careful how the market will develop within the next days. If the market goes below 24,500 and closes below at least 3 days in a row we would have at least an indication.

Of course this is not an advise it is just my personal opinion.
Mar 22
Comment: & decision was taken
Mar 22
Trade closed: target reached: I did not trade this set-up - actually a pitty ;) It was just an eduactional chart or a chart to make you aware of the downward risk after the Head & Shoulder pattern.
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