EUR Reversal

[nefariousbaffler]

So I know all the fundemental reasons as to why the USD is supposed to drop. I know because of all the trade imbalances, debt, and warren buffett holding eur as well as all the other reasons why I should be long EUR.

BUT....then I look at the chart and see a massive H&S pattern setup. So my main point is I would like comments from other traders as to why this isn't a solid H&S pattern and why I should ignore it.

Input is appreciated. Thank you.

 

[G-Man]

Are you looking at a weekly chart?

G-Man

 

[nefariousbaffler]

Are you looking at a weekly chart?

G-Man

Yes, looking long term

 

[jacinto]

So I know all the fundemental reasons as to why the USD is supposed to drop. I know because of all the trade imbalances, debt, and warren buffett holding eur as well as all the other reasons why I should be long EUR.

BUT....then I look at the chart and see a massive H&S pattern setup. So my main point is I would like comments from other traders as to why this isn't a solid H&S pattern and why I should ignore it.

Input is appreciated. Thank you.

yep, huge ....POTENTIAL.....but only potential H&S in the monthlies.........the weeklies had an inverted H&S, and is only reaching target......for the time being, the current pattern would suggest a bias to the upside....then again.....

first wait to see if current uptrend is broken....only about 700 pips down to go before that happens....

Cable has a similar potential H&S, same comment, cable only has about 900 pips to go south if it is to break a significant trend....we may wait some time unless there is a massive sell off