FORMATION OF H&S PATTERN EUR/AUD
AS YOU CAN SEE THAT THE MARKET IS ON A BULLISH UPTREND AND IS FORMING A H&S PATTERN. ACCORDING TO THEORY IN AN UPTREND A H&S PATTERN IS A REVERSAL. CURRENTLY IT BOUNCED OF A KEY RESISTANCE AND IS TESTING 50% FIBONACCI LEVEL IF THIS LEVEL IS RESISTED AND ALSO BREAKS THE SUPPORT. I WILL PERSONALLY SHORT IT AFTER IT RETESTS THE NECKLINE RESISTANCE WITH A TP FROM THE HEAD PIPS - NECKLINE PIPS AND SL AT THE TOP OF THE RIGHT SHOULDER. ALSO THE RSI IS AT OVER BOUGHT STATUS SO HOPEFULLY THIS IS A SHORT
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