(WON) SHORT AUDUSD | H&S Pattern | Downtrending Fork
Fellow Traders,
Head and Shoulders spotted on the AUDUSD and price has broken through the neckline for a move down. Also, there is a downtrending fork in play on a larger timeframe (see attached in comments). Let's see if selling pressure increases.
Trade Details
Entry: .78538
SL: .79420
TP1: .77368 (I plan to take 1/2 position profit here)
TP2: .763 (I plan to close the remaining portion of the trade here for profit)
I suggest risking no more than 1% per trade by adjusting your position size accordingly.
Luke
Check out my performance record of all published trades on TradingView: tinyurl.com/klkd2vr
Update - 30 Mar 2015: Trade closed for profit
Head and Shoulders spotted on the AUDUSD and price has broken through the neckline for a move down. Also, there is a downtrending fork in play on a larger timeframe (see attached in comments). Let's see if selling pressure increases.
Trade Details
Entry: .78538
SL: .79420
TP1: .77368 (I plan to take 1/2 position profit here)
TP2: .763 (I plan to close the remaining portion of the trade here for profit)
I suggest risking no more than 1% per trade by adjusting your position size accordingly.
Luke
Check out my performance record of all published trades on TradingView: tinyurl.com/klkd2vr
Update - 30 Mar 2015: Trade closed for profit
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.