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Henrik-SMCTrading
Jun 28, 2018 11:54 AM

AUDJPY, 1h, Head&Shoulder Short

Australian Dollar/Japanese YenFXCM

Description

This H&S isn´t perfect but since we also have a structure level that will be tested at the same time as a break of the H&S neckline will occur - makes it really interesting to me.

There is couple of ways to set SL and targets and I´m using the last lower high, + couple of pips, as SL in this setup.
For targets I´m looking at a 1.618%-ish move of the right shoulder leg as a first target and second is an equal move down of the same leg.

Break of neckline and structure will alert me for a possible execution.
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