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: 364

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.

Comment

You need to be a member of Forex Social Network to add comments!

Members

Join us on Facebook Now!!!

Hi everyone

This website was closed June 2nd 2015.

Please, join us now at Facebook where you can keep sharing your thoughts about Forex with our community of traders:

https://www.facebook.com/superfxnews

OVER 2,500 READERS!!!!

© 2015   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video