The Eur/Usd pair had been followed since bearish engulfing pattern at the 200sma a week and half ago. A neck for a possible daily 800sma "head and shoulders pattern" was traced last week after a big move in the 4h chart believed to be a breakthrough. After the european ZEW data yesterday, this neck-line was broken to the upside (previous post). The neck was retraced on the daily chart. A new 200sma SurpriseBox was drafted on the 4h chart based on the retrace. Will add to my position with a brake to the downside or will liquidate my current position with a brake to the upside (previous stated stop).
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
