AUDUSD Head & Shoulders Pattern
Updated
Hi Traders!
A head-and-shoulders pattern is forming on the AUDUSD 1D chart.
Here are the details:
The market has found strong support at the 0.65255 level, which is the neckline. The right shoulder is currently forming, and we expect some consolidation around this level before a possible break and close below the neckline.
The plan here is to monitor both the neckline and right shoulder and wait for a confirmation signal before entry.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 0.66048
Support: 0.65255
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
A head-and-shoulders pattern is forming on the AUDUSD 1D chart.
Here are the details:
The market has found strong support at the 0.65255 level, which is the neckline. The right shoulder is currently forming, and we expect some consolidation around this level before a possible break and close below the neckline.
The plan here is to monitor both the neckline and right shoulder and wait for a confirmation signal before entry.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 0.66048
Support: 0.65255
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Trade closed: target reached
Perfect setup and neckline break
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