head and shoulders pattern on overbought market
Updated
Good morning, traders.
on audusd pair we have nice head and shoulders pattern in a clearly overbought market.
Just couple of hours ago the market has violated the neckline.
It gives us an opportunity to sell the market anticipating a bearish movement.
Targets are based on structure.
Stop is above head.
Good luck!
Note
one more retest of necklineNote
Bounce from 0.72Note
again the market is below the necklineNote
hit the initial targetTrade closed: target reached
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