This is a perfect opportunity to get in on a longer term short on EUR/USD. Head & Shoulders pattern has been confirmed and is being re-tested right now.
Take Profit 1 - At a major support.
Take Profit 2 - At a major support
Take Profit 3 - Follows the rule of thumb for taking profit on Head & Shoulders patterns. The distance between the top of the head and the neckline is your TP.
your analysis is very good. so what went wrong, so we can fix such a problem in the future.
solution: if we had put a trend line under the last small rally(from 1.155 to: 1.166) and then placed our order under that line. by now our order would still be pending. so we can readjust it.
by doing this, we are telling the market(our broker) if the trend-line is broken, then (an only then) execute our order.
advice 1: never place "Market order"; always place a condition on the market.
advice 2: we are very good if we can apply the same thing for the other components of the order (ie. SL, TP).
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-when i checked, i found that many people like you (including me) thought that eurusd at that point will go down.but contrary to everyone expectations it went up sharply.
we shall admit this nice trick the eurusd plays over and over again.
solution: if we had put a trend line under the last small rally(from 1.155 to: 1.166) and then placed our order under that line. by now our order would still be pending. so we can readjust it.
by doing this, we are telling the market(our broker) if the trend-line is broken, then (an only then) execute our order.
advice 1: never place "Market order"; always place a condition on the market.
advice 2: we are very good if we can apply the same thing for the other components of the order (ie. SL, TP).
-------
-when i checked, i found that many people like you (including me) thought that eurusd at that point will go down.but contrary to everyone expectations it went up sharply.
we shall admit this nice trick the eurusd plays over and over again.