AUDUSD LONG - Head & Shoulders Bottom
BUY SIGNAL.
Head and Shoulders Formed on 1D after Bearish move,
signalling reversal if pattern completes.
Right Shoulder forming, CTS Score of 5 as follows:
RSI Divergence on 4HR - 1 CTS
Left Shoulder at Major Structure. (3+Tests on DAILY TF) - 2 CTS
Right Shoulder at Minor Structure. (3+Tests on 1HR TF) - 1 CTS
Strong Pivot point of 0.55000 present at head level - 1 CTS
ENTRY SIGNAL - Doji on 4HR Followed by HHHC.
BUY STOP SET 5 pips above neckline.
Targets taken from EMM but shortened to fit to strong
1.618 Fib extension and structure.
Stops 1ATR below right shoulder.
Shoulder may continue to form to the downside before reversal so even though my STOP Order Set I shall Reassess DAILY
Head and Shoulders Formed on 1D after Bearish move,
signalling reversal if pattern completes.
Right Shoulder forming, CTS Score of 5 as follows:
RSI Divergence on 4HR - 1 CTS
Left Shoulder at Major Structure. (3+Tests on DAILY TF) - 2 CTS
Right Shoulder at Minor Structure. (3+Tests on 1HR TF) - 1 CTS
Strong Pivot point of 0.55000 present at head level - 1 CTS
ENTRY SIGNAL - Doji on 4HR Followed by HHHC.
BUY STOP SET 5 pips above neckline.
Targets taken from EMM but shortened to fit to strong
1.618 Fib extension and structure.
Stops 1ATR below right shoulder.
Shoulder may continue to form to the downside before reversal so even though my STOP Order Set I shall Reassess DAILY
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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.