EURUSD major support broken, prepare for a drop

FX:EURUSD   歐元 / 美元
Sell below 1.2203. Stop loss at 1.2253. Take profit at 1.2089.
Reason for the trading strategy (technically):
Price has broken major support-turned-resistance at 1.2203 ( Fibonacci retracement , horizontal pullback resistance) and we expect this to trigger a strong sell off that would push price down to at least 1.2089 support ( Fibonacci retracement , horizontal pullback support).
RSI (55) sees a bearish exit of our ascending support-turned-resistance line signalling that we’ll likely be seeing some bearish momentum from here.
Trade is dead as it reached SL!
Your stop loss should have placed above the right shoulder, if you have ever read about head and shoulders patter and how to use it , you will understand what I mean
+1 回覆
Your stop loss was not placed in a good place
head and shoulder success rate is so low nowadays.
Price go to the SL
paulDtrader abannari
@abannari, stop hasn't been touched yet
+2 回覆
stonejack0505 paulDtrader
@paulDtrader, I think it will be by the look of price actions
abannari paulDtrader
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