EURUSD H1 Inverted Head and Shoulders
EURUSD H1 Chart pattern Inverted Head & Shoulders has been confirmed by the price has broken the neck line.
We can estimate the target profit with classic method, measuring the distance between Head to Neck line, then, project this height at the break out point.
A very good indication of good Inverted Head and Shoulders is that the low of the right shoulder should be inside the Bollinger Bands (20,2). Meaning that the bullish momentum is in control.
Stoploss should be placed below the right shoulder low. We can reverse the trade to the Short side immediately if the price break the line connecting Head and Right Shoulder.
Tanakorn Koomrampai ,CMT®, CFTe®
Disclaimer : This idea is for educational purpose only.
We can estimate the target profit with classic method, measuring the distance between Head to Neck line, then, project this height at the break out point.
A very good indication of good Inverted Head and Shoulders is that the low of the right shoulder should be inside the Bollinger Bands (20,2). Meaning that the bullish momentum is in control.
Stoploss should be placed below the right shoulder low. We can reverse the trade to the Short side immediately if the price break the line connecting Head and Right Shoulder.
Tanakorn Koomrampai ,CMT®, CFTe®
Disclaimer : This idea is for educational purpose only.
