FX:AUDUSD   Australian Dollar / U.S. Dollar
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 .
Comment: The price moved strongly up and is close to 1:1 R:R.
I moved my SL to 50% now.
I still accept a pullback, but not a huge one.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out