EUR/USD Short Head & Shoulders continuation pattern/Daily
Updated
A head & shoulder's pattern was successfully completed with a break of the neck line with good volume on the 23rd of Jan. Price action has since pulled back to the neck line, meeting resistance with both the neck line and a 20 & 50 day MA cross to the downside (adding confluence to the trade)
I've opened the trade @1.10822
Stop loss is set just above the 200MA @ 1.11344
take profit set @ 1.09280
this is a 3 to 1 trade, Good luck, and as always, manage your risk.
I've opened the trade @1.10822
Stop loss is set just above the 200MA @ 1.11344
take profit set @ 1.09280
this is a 3 to 1 trade, Good luck, and as always, manage your risk.
Note
Four days in and the trade is coming along nicely, today I'm going to bring my stop loss to break even & take a portion off the table in profits. 👍Trade closed: target reached
7 days in and target reached. Successful trade 👍
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