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SlovakTrading
Mar 11, 2019 1:06 PM

AUD/USD - Inverse head and shoulders  Long

Australian Dollar/U.S. DollarFXCM

Description

We can see that on the chart there is building up reversal pattern - Inverse Head and Shoulders. This is bullish reversal pattern and important is close above the neckline.

Wait for pullback (neckline), it should be good entry.
Targets: TP area (agressive)
0.382 Fibo (0.7076)
SL: Below the right shoulder -> 0.70260

Wait for entry! Wait for neckline breakout and pullback!

Comment

Valid pull-back and bounce.

Comment

Set your SL below the neckline

Trade closed: target reached

Conservative Target 0.382 Fibo -> 0.7076 HIT
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