EURCHF Head and Shoulders, Reversal off .786 Fib
Updated
EURCHF has formed a nice head and shoulders pattern after finding resistance at the .786 fib retracement level. I expect the trend to continue downwards.
My initial target will be the recent support at 1.1353 and my secondary target will be the 1.272 extension of the recent bearish impulse leg--a level that has nice confluence with structure (look left!)
My initial target will be the recent support at 1.1353 and my secondary target will be the 1.272 extension of the recent bearish impulse leg--a level that has nice confluence with structure (look left!)
Comment
This is why we always set our stop above (or below) the head of a Head and Shoulders pattern!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.