EUR\USD Wedge + Head & Shoulders (220 Pips Target)

ChartSecret

Master Trader
Jun 26, 2009
91
1
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www.chartsecret.com
Two patterns can now be seen on the EUR\USD, both suggesting bearish trend.
First on is the Ascending Wedge which is a reversal pattern - price has already broken its support line. Second pattern is the Head & Shoulders, which is a bit dis-proportioned in the EUR\USD. It is the classic and strongest reversal patterns.

Trading:
Enter short after breakout of the support level at 1.4620, or at the pullback to this level. Target is 220 pips from pullback location.

Analysis and Chart Pattern Trading:
http://www.chartsecret.com/content/eurusd-wedge-head-shoulders
 

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