EURCAD Renko Analysis - Short

EURCAD Renko Chart, Head & Shoulders Pattern

A minor head and shoulders was formed with a retracement from 150% now taking place. There are two possible entries.

• Entry #1 at 1.4964, which marks the support/resistance level previously
• Entry #2 at 1.50405 which is exactly the distance between 200% and 100% (So it should form 2 retracement bricks).

Stops would come in at 1.51937

P.S: That EURAUD short decision to take profit at H&S target was sweet. Price kissed the level and retraced quite strongly.