Raju
Long

Head AND SHOULDER PATTERN

FX:AUDUSD   Australian Dollar/U.S. Dollar
27 2 1
Fib Retracement potential support

1st Target at 0.93406

2nd Target at 0.93837
Mirandole
2 years ago
Hi Raju !

I feel a bit sad that you've lost this trade. YYou've made a nice pattern analysis on this trade. There was, effectively, a HIS-pattern on this AUDUSD pair but you should be careful with patterns. They don't always get confirmed. This is why you should use more tools to trade like MACD on RSI oscillators which could give more indications. As you can see on the chart below RSI failed to break 50-neutral level. We call it a RSI uptrend rejection which means that the uptrend of the pair has been rejected and so it will probably reverse down.

snapshot


I hope It will help you to make better trades in future.

Best Regards,
Serge

PS : Plan a trading strategy, try it on demo account and if it works then trade on real account :)
Reply
Raju Mirandole
2 years ago
Thank you for you support.I'' do my best.
+1 Reply
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