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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
JOIN OUR FREE TELEGRAM CHANNEL
t.me/bluetonaFX
t.me/bluetonaFX
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.