Fake breakout through 0.744 resistance, then HnS

At 0.744 we have strong significant resistance level, three price maxima very close to it. Yesterday we had breakout up through the resistance, but it reversed which produced good short entry. Prices rallied with strong impulse and now we have head and shoulders pattern for continuation that offers another good entry into short trade. Short now, SL above right shoulder first TP at the bottom of the channel

Kommentar:

Closed at the bottom of the channel