In the article from the beginning of September I analysed the inverse H&S on this pair and the movement that followed after its implementation exceeded all expectations. From the charts I expected 400 pips but came out 950 pips.


Now at the top of this rally is formed next H&S formation and having in mind the popular in the forex saying that to grow something must fall first and vice versa – the probability of implementation a bearish H&S  after such a rally is very big. Currently the price is balancing on the edge of the formation on the so-called neck line at levels 150.00-150.10. If there is a breakthrough, it is worth considering Sell, preferably after the level is re-tested from below.

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Since 2010, he has been actively involved in the Forex market up to now. He is a supporter of Price Action and using as few indicators as possible. He believes that the simplicity of the system and consistency in its application is the best way to success in financial markets, and lack of patience is the most frequent cause of failure. Interested in classical systems based on Technical Analysis and in psychology - mechanisms that guide human behavior and conditioning decision making in trading.