Bearish 1,2,3,4 HR Head 'N' Shoulders AUDUSD
Updated
https://www.tradingview.com/x/vtmtADsP/
This Short idea is already playing out. It does not appear that price has returned fully to the neckline to complete the Retest. But selling into this could be a good yielder. Good luck.
This Short idea is already playing out. It does not appear that price has returned fully to the neckline to complete the Retest. But selling into this could be a good yielder. Good luck.
Trade active
Short AUD / USD
* Take a read on the actual AUD USD chart above Re stop loss.
The TP is also marked on the chart.
You have to be a little flexible trading H&S because this one has not properly retested yet so I might update tomorrow about SL
Comment
Comment
I like to sometimes look right underneath the bonnet (so to speak) at the super low timeframes. Here are the last candles from Friday.
Trade active
Short:
Hi guys,
A quick update on this trade.
One thing to be mindful of firstly, is that there is a very possible bullish reversal of the AUD against the USD commencing as early as next week.
I am Short at the moment but I will watch this periodically for signs of this reversal.
This reversal will be huge and fast when it happens so make sure you have at least a Stop somewhere that protects you and still keeps you in the trade.
Apart from that I see that the trade is going our direction downwards at the moment and that is great.
Chris
Trade active
Trade active
15 Second Chart on the right I want to see price get back under the trend-line
Left screen are my Weekly momentum indicators that also gives over-sold & over-bought signals. The important Weekly time-frame for this type of analysis is showing me that it is still overbought but demand for the AUD is fading, that is the magic. How do I know this? When the weekly Stochastics are crossing down 80, pointing down & importantly holding.
Comment
15m chart should readTrade closed manually
I have closed positions at a loss.
Price has failed to get under the trend-line again. Too slow. Head n Shoulders are explosive patterns after they retest.
There is a bigger macro theme of people getting Long for the breakout of the Aussie soon.
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