KWFX

Possible Daily H&S - Swing Trade

Short
KWFX Updated   
FX:EURUSD   Euro / U.S. Dollar
We have the following:

  • Head and Shoulder Pattern (Slanted Neckline)
  • MACD and STOCH Divergence
  • Engulfing bearish breakout from H&S

CONS;
We haven't broken the long term up trend.
We are near to a good role reversal zone.
R&R not so good if we use a conservative SL place above the right shoulder.

Things to possibly watch for:
Good breakout of trendline and RR + pullback.
Wait for a good entry in H4 or H1.
Trade active:
You may take partials. We can expect either a pullback or a downtrend continuation. Wait for price action confirmation.
Trade closed: target reached
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