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Euro / Australian Dollar
Short

Potential Head and Shoulder Pattern Spotted @ EURAUD

By Kingsley_lotanna
Updated
EURAUD[/symbol Friends, [b]H&S pattern and rising wedge are brewing on EURAUD (1D TF) with a potential price move of about 1000 pips (10,000 ticks) if measured from resistance area formed by left shoulder (potential right shoulder) to height projection of the H&S from it's neckline. 2 sell positions will be appropriate with TP1 @ the neckline while TP2 @ the end of the rising wedge. Good luck to us all. PPPDirhams... Follow my ideas at your own risk!
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The right should have formed nicely as expected. Shoulder level may be retested
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Pin bar formation is just a confirmation that right shoulder formation is been completed. Now we expect a huge fall to -1000pips (10,000 ticks)
Chart PatternsEURAUDeuraudanalysiseuraudforecasteuraudideaeuraudselleuraudsetupeuraudshorteuraudsignaleuraudtradeTechnical IndicatorsTrend Analysis
Kingsley_lotanna
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