Hello Traders! EUR/USD Head and Shoulders

Aloha Traders, been "a few" since we last spoke. I like to trade a whole lot less during tough and choppy consolidation periods as we have had over the past couple of weeks in the FX and equity markets, so I have not seen much worthy of posting about until tonight. We have a very nice and very clear potential Head and Shoulders pattern developing on the EUR/USD pair. As with all setups, potentials, and trades, WAIT FOR CONFIRMATION. There is no need to front run, and in this case, there is a lot of meat on the bone so please do not take the chance of having your head handed to you just because you don't want to 'miss out'. You will not miss out if you are patient. In this case, that means wait for the BREAK of the neckline detailed in the chart above. The idea here is that we want to wait until the spike lows from each individual peak are broken. The peaks are the shoulders and the head, the spike lows extend away from the peaks to create the neckline. The beautiful aspect of the confirmed Head and Shoulders pattern is that it is highly reliable, especially after the neckline has broken, been tested, and then failed. At that point trade entry is recommended with a stop on the other side of the neckline..... Good Luck!