Head And Shoulders Forming On 4HR AUD/USD
So first of all, Happy New Year to all you traders, I wish you all, all the best for this new year.
Straight in at the thick of it here with a possible Head & Shoulders forming on AUD/USD.
For me personally i'm waiting for the pattern to be confirmed at around the 0.685 level and for my "technical's" to confirm the short trade before I enter, but if you only use patterns this maybe a good set up for you!
If I do enter this trade, it will be entered with a short in mind and I will be looking to take profit at around the 0.6810-0.6800 level as this shows a strong history of support and resistance to warrant placing my Take Profit around that level.
Straight in at the thick of it here with a possible Head & Shoulders forming on AUD/USD.
For me personally i'm waiting for the pattern to be confirmed at around the 0.685 level and for my "technical's" to confirm the short trade before I enter, but if you only use patterns this maybe a good set up for you!
If I do enter this trade, it will be entered with a short in mind and I will be looking to take profit at around the 0.6810-0.6800 level as this shows a strong history of support and resistance to warrant placing my Take Profit around that level.
Trade active:
Trading is now active and I have set my Take Profit at the 0.6813 area.