The Eur/Usd pair, as suspected, made a strong bearish move today. Expected to continue this trend. Last weekend analysis presented a bearish engulfing pattern in the weekly chart, just at the 200sma. Yesterday on the 4h chart, made a bearish engulfing pattern just on the 50sma. Started my position then. This morning, completed a head and shoulders pattern seen in the 4h, 8h and daily charts. A clear entry, exit and stop provided by the pattern. Below are the strategy charts I am using. Again, this is my opinion; I do not recommend only transmitting my thinking of the markets. I love technical analysis!
Disclaimer: I trade the patterns depicted either at the entry point stated (e.g. trading channel, breakouts) or afterward. Although my trades are based on technical analysis, trading forex is a risky activity and may produce significant monetary loss. I only post public the trades that I am considering to make, or made and the rational for them. Not intended necessarily as trading recommendations. By SurpriseTrade@gmail.com
