Friday, December 14, 2012

USDCHF Head-and-Shoulder Short Trade USDCHF head-and-shoulder Short Trade
I posted this setup as developing few days back. Post [here].

Initially I went short on touch of 200EMA at 0.9370 and booked my trade at 0.9310 for +60 pips. 

Now the head-and-shoulder pattern is complete and currently price is trading near to neckline. 

On previous 2 occasions this neckline has supported price on dips. This area is resistance-turned-support. 

I plan to go short on break and daily close below the neckline with stop just above neckline. Being Friday, I will keep size small.

No comments:

Post a Comment

Related Post