Possible H & S

Good afternoon Dynamic Traders,

The chart I want ot look at today is the EURCAD.

The weekly timeframe has an RSI divergence, amoungst other confluences, but if you go down to the daily chart below, you can see we have had a possible bearish flag pattern break and are now completing a possible H & S pattern.

Whilst doing your own analysis, you will also notice that it is in your DD parameters, but does at present stand at a fib. reversal, but is not OS in Stochastics and RSI is below 50.

I will take my entry in accordance with the daily price action, but would you please ensure that you do your own analysis before taking any trades.

Charts courtesy of TradeStation.

Enjoy trading.

Clayton Farnworth.