The Euro looks like it may be trying to carve out a Head Shoulder top, but really needs to stay under 1.3100 to remain valid. 1.3090 is 23.6% of 1.2623/1.3234 and currently acts as short term resistance.If it works, 1.2925 would be the target, so not a bad risk reward!

Views: 359

Comment by talisman on February 1, 2012 at 1:37am

i always like it when somebody sees the same thing as i do . i entered a trade on this which hasn t been filled yet.

Comment by Bruno on February 1, 2012 at 7:52am

looks like a perfect H&S

Comment by talisman on February 1, 2012 at 9:57pm
So so true! I just laughed when I saw that. It's a game of probabilities always.
Comment by 2ndSkiesForex on February 1, 2012 at 11:43pm

To me, this was an obvious no-play which we actually discussed in the price action webinar just the other day.  Feel free to watch so you can see the price action analysis I did which told me why I didn't want to take this short.

Hope it helps

Chris Capre 

Comment by talisman on February 2, 2012 at 2:25am

@chris thanks, i might do that.  what is the link? i coudnt find it at your site.

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