EURUSD, 4h - Possible Head and Shoulders formation
Entry Price arround 1.12070. Note: Previous hammer candle might indicate strong rejection to this zone.
Stop Level arround 1.12502.
Profit Level 1 has confluence with 38.20% fibonacci retracement, which is also a previous resistance zone, now possibly turning support.
Profit Level 2 has confluence with a 50.00% retracement, which has sense from a Gann's perspective.
Profit Level 3 has confluence wiht 61.80% fibonacci retracement, which is also a previous resistance zone, now possibly turning support.
Stop Level arround 1.12502.
Profit Level 1 has confluence with 38.20% fibonacci retracement, which is also a previous resistance zone, now possibly turning support.
Profit Level 2 has confluence with a 50.00% retracement, which has sense from a Gann's perspective.
Profit Level 3 has confluence wiht 61.80% fibonacci retracement, which is also a previous resistance zone, now possibly turning support.
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