AUDUSD formed a Head and Shoulders pattern on 15' chart. This kind of pattern give us a good R:R ratio.
The H&S confirmation candle was also a big preemptive Bullish Outside Bar, showing us the strong bullish short term momentum, a must have in breakout trades.
Also, the move up projection of the H&S is coincident with the next major resistance zone.
The EURUSD Head and Shoulders has been on Forex trend topics for long days.
And the pattern is now formed and it's very clear and well designed.
We just have to understand that the fact that the pattern could break higher the next few days doesn't mean that the EUR will have an easy life above 1.09 resistance zone, there is a lot of resistances up there.
Actually...
USDJPY is consolidating between the 112.00 support zone and 115.00 resistance zone. The box consolidation is clear and have been formed since 2017 first days.
We're now close to a breakout and down to 110.00 area? Or we're about to bounce back to the top of consolidation?
The next days will clear things out, the way I plan and execute my trades is more on...
USDCHF is breaking the 30' box. The top of consolidation was just confirmed by previous candles, and the final target is on the top of a bigger consolidation as seen at 1h.
The major resistance zone is 1.00 (big number), which is close to 1:1 risk to reward. If price reach that area I'll bring SL to breakeven.
FX:EURUSD
I'm long again on this Bull Flag breakout. The market reading is the same as today earlier, but with a different timeframe and momentum.
The actual candle just formed a big Bullish Outside Bar, breaking up the consolidation box and showing the strong up momentum.
The day trading relies good part on timing and momentum, it's important we realize that.
FX_IDC:EURUSD
The 15' Bull Flag was just confirmed by price, with precise touchs to the line.
Due to the recent uptrend move, this trade has a great R:R of over 1:3, and it's on the trend side.
The 100% Fibo projection is exactly at the major daily resistance, but as a day trade it's reasonable to take profit a little earlier.
