So, the idea with the Head-and-Shoulders worked out nicely. We got our break to the downside. Now the question is, how far we will drop?
If applying the standard calculated projection target that comes under the H-a-S rules, then I've marked it with that little box, around the 0.69 are.
So far, this pair has been following the text book. Let's see if it will continue doing that.
For an entry, well, that's a tricky one. I wouldn't say now. Wait for it to show some weakness in the short-run and then jump in.
Or, you could set some SELL Orders around the previous lows, around 0.71400 . And then aim for lower.
I would consider this pair to be bullish if it would get back above the H-a-S Neckline.
But, as always... hey, what do I know. You be the judge.
Keep an eye on the price action!
If applying the standard calculated projection target that comes under the H-a-S rules, then I've marked it with that little box, around the 0.69 are.
So far, this pair has been following the text book. Let's see if it will continue doing that.
For an entry, well, that's a tricky one. I wouldn't say now. Wait for it to show some weakness in the short-run and then jump in.
Or, you could set some SELL Orders around the previous lows, around 0.71400 . And then aim for lower.
I would consider this pair to be bullish if it would get back above the H-a-S Neckline.
But, as always... hey, what do I know. You be the judge.
Keep an eye on the price action!
