Forex Elite - Trade Money » Trades http://forexelite.net Join An Elite Group Of Pip Harvesters... Wed, 01 Jun 2011 05:36:19 +0000 en hourly 1 http://wordpress.org/?v=3.0 Feb 9 – Head and Shoulders on Euro Daily? http://forexelite.net/feb-9-head-and-shoulders-on-euro-daily/ http://forexelite.net/feb-9-head-and-shoulders-on-euro-daily/#comments Thu, 10 Feb 2011 07:23:24 +0000 Jason http://forexelite.net/?p=237 Hey folks. this looks like a beautiful head and shoulders reversal to me (at a key reversal area from the Nov 4 high). I’m in short right below where I see the right shoulder, planning to take half at the neckline and the other half around 1.34 if this works out.

Disclaimer: This trade may or may not work out, if you decide to take any action based on this it is solely YOUR responsibility.

Here’s a couple more reasons why I’m feeling good about this trade:

Euro 50 Range Chart
Dollar Index 50 Range Chart

Both look like they have completed their Spike and Channel patterns.

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Euro moved below the 4 hour kumo and that 1.4600 level looks like it is giving way.  Looks like Euro is going to go down and test that 1.4530 level.

Interested in Eminis? Check out Emini Trading blog.

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