EURUSD Head & Shoulders Watch
Updated
Potential Long Term Head and Shoulders Setting Up on 
EURUSD Daily Chart
If we can get a pullback and daily close around 1.18680 followed by a bear candle (preferably an engulfing bear candle) then we may have our Left Shoulder and be on the way down to test the neckline at 1.17100.
One could place a pending sell stop order just below 1.17100 and go SHORT on the break.
If the neckline is broke at 1.17100 we would be looking at 3 Long Term Targets:
Target #1 - 1.15530
Target #2 - 1.14395
Target #3 - 1.13280
Keep an eye on this development over the next few weeks
Published on 10/11/2017
EURUSD Daily ChartIf we can get a pullback and daily close around 1.18680 followed by a bear candle (preferably an engulfing bear candle) then we may have our Left Shoulder and be on the way down to test the neckline at 1.17100.
One could place a pending sell stop order just below 1.17100 and go SHORT on the break.
If the neckline is broke at 1.17100 we would be looking at 3 Long Term Targets:
Target #1 - 1.15530
Target #2 - 1.14395
Target #3 - 1.13280
Keep an eye on this development over the next few weeks
Published on 10/11/2017
Comment
Whoops - switch my shoulder labels - it is late! Left is formed and right potentially is in the makingComment
Seems to be setting up perfectly at this point. We are looking at that range between 1.16850 and 1.17100 for a break. If we sense steady downward pressure - we will look to go SHORT on a break of 1.17100 to see if we can catch the down wave.Trade active
Comment
Neckline at 1.17100 has been broken. Now we look for 1.11530 over the next couple months.Comment
Moving SL to Break Even
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