EURUSD 4H Chart Inverse Head & Shoulders breakout
Updated
EURUSD 4H chart Inverse H&S producing a
breakout
Additional confluences:
- Bullish market structure, the price is forming the
pattern around the support range fro m the
previous major high points
- Head of the inverse H&S pouncing from the
0.618 Fib
- MACD produced a Bullish cross a while back and
now it's providing bullish continuation
- Price bounced from the 200 SMA and now it's
above the 20 and 50 EMA. Monitor the 20 and 50
for a Bullish cross
breakout
Additional confluences:
- Bullish market structure, the price is forming the
pattern around the support range fro m the
previous major high points
- Head of the inverse H&S pouncing from the
0.618 Fib
- MACD produced a Bullish cross a while back and
now it's providing bullish continuation
- Price bounced from the 200 SMA and now it's
above the 20 and 50 EMA. Monitor the 20 and 50
for a Bullish cross
Trade active
A bit after the price produced a breakout of the neckline and an entry according to the pattern, it went for a strong correction. After that it recovered and now again it's sitting around the neckline. Lets see how it goes..
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