As currently The Dollar Index is having a big bearish bias. and there is always traders out there seeking for trade the retracement. So here am I droping simple trade idea that might works
Trade Concept : H&S (Head & shoulder)
Completed Phase : Left Shoulder with closed price level @ 93.95
Current Phase : Head with nice touch of support from Jun 2018 and having small climb.
How to trade this idea :-
1. Aggressive, take now, and SL at Head price level (93.19)
2. Wait, let the price breaks 93.95 as conformation that price has higher chance to go higher and "wait" for the "left shoulder" completed and not breaking head price level/ support level on jun 2018 with the price level of 93.19
Trade safe, Please consider the risk on taking idea for your trade. Have a nice day.
Trade Concept : H&S (Head & shoulder)
Completed Phase : Left Shoulder with closed price level @ 93.95
Current Phase : Head with nice touch of support from Jun 2018 and having small climb.
How to trade this idea :-
1. Aggressive, take now, and SL at Head price level (93.19)
2. Wait, let the price breaks 93.95 as conformation that price has higher chance to go higher and "wait" for the "left shoulder" completed and not breaking head price level/ support level on jun 2018 with the price level of 93.19
Trade safe, Please consider the risk on taking idea for your trade. Have a nice day.
what price had did was it didn't even break 93.95 but rather shows a lower high at 93.61(on close/open price near 30th July and slams down to Aug 2017 S/R and star to went back up. but still on major downtrend.