After finally breaking the neckline of what has been a 3 month head and shoulders reversal pattern on the 
EURUSD (check the attached post or my most recent video for a look at that setup) I've got my eyes glued to potential bearish setups (on both the higher & lower timeframes) until we reach our next level of potential structure support.
On the Daily, price has once again started to consolidate, creating a bearish flag formation, leading me to predict a breakout to the downside. Going down to the hourly this consolidation setup is setting up a pullback trade with a shorting opportunity at a retest of the previous shelf of resistance.
There are some concerns about a possible bullish head and shoulders forming, but what would be trading without concerns. If that happens then we simply adjust accordingly.
Bu all eyes on shorts for the Euro until something changes that outlook.
Akil
Sorry for being away, but I've been working on sa new project
EURUSD (check the attached post or my most recent video for a look at that setup) I've got my eyes glued to potential bearish setups (on both the higher & lower timeframes) until we reach our next level of potential structure support. On the Daily, price has once again started to consolidate, creating a bearish flag formation, leading me to predict a breakout to the downside. Going down to the hourly this consolidation setup is setting up a pullback trade with a shorting opportunity at a retest of the previous shelf of resistance.
There are some concerns about a possible bullish head and shoulders forming, but what would be trading without concerns. If that happens then we simply adjust accordingly.
Bu all eyes on shorts for the Euro until something changes that outlook.
Akil
Sorry for being away, but I've been working on sa new project
Note
We have just formed the bullish head & shoulders pattern mentioned above. Eyes are no longer on potential shorts until we get the next setup
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The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
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Coaching, Courses & Community
tieronetrading.com/
The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
tieronetrading.com/
The Trading Coach Podcast
anchor.fm/thetradingcoachpodcast
Free Trading Computer Buyers/Builders Guide - tradingcomputerbuyersguide.com/optin-629312741738938873920
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.