An almost complete head and shoulders pattern is observed in weekly timeframe for EURUSD with descending necline trend is about to be approached. It would be interesting to see how market reacts on this level in the coming weeks, but I have SHORT bias on this pair.
I believe aggressive trader can enter short trade the moment the price closes below the neckline and add on to their position when it retraces the neckline.
Conservative trader would want to wait until the first retracement to neckline before entering short trade.
Stay safe trader!
I believe aggressive trader can enter short trade the moment the price closes below the neckline and add on to their position when it retraces the neckline.
Conservative trader would want to wait until the first retracement to neckline before entering short trade.
Stay safe trader!