I can see from d1 eurusd chart is still uptrend
From line chart I can also see a potential ihs if the right shoulder can be formed.
It is with this notion that I therefore look to play out this right shoulder.
However, the crux is that this right shoulder has not been formed. I am only assuming that there is a probability that price might be playing out this right shoulder,
as these are the confluences that I see:
1) D1 shooting star with resistance at d1 line chart
2) h1 Head and Shoulders formed at w1 res
3) In conjunction with Wr2B pending 10pm close.
Since this is a CTT, I will look towards quick TP at the next w1 support/ d1 line chart
this trade turned out to be a scratch trade. Obviously I will not be employing a set and forget approach towards my trades anymore since I have turned full time and hence will be expecting to monitor the markets more. To be fair to the progress seen in price, i did see a 2 day consecutive hammer, which I will conclude what I did at the point of time when I exited,
COULD I HAVE DONE BETTER HERE?
What i could have done better though, was to look for a short on friday’s opening, since
thursday was a bearish close below 2 days of hammer.
What I will have to do, is to look for a small consolidation, preferably between my identified levels.
My only concern for this was it was resting on a “supposed” left shoulder; a potential right shoulder could be forming. but the word is only “potential”