lique
Short

AUDUSD Head and Shoulders pattern

FX:AUDUSD   Australian Dollar / U.S. Dollar
165 4 0
A simple head and shoulders pattern emerge, could be the beginning of a reversal to test the 0.8800 area or more.
waves 3-4 seem to be over
both indicators are above the line
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lique AnneSmith
price made a daily inside bar, a break either way will show the direction.
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Ascending Necklines.. better watch for those.
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lique QuantitativeExhaustion
From investopedia:

In most cases, the neckline will in fact be slanted either up or down. In general, a technically strong head-and-shoulders top should have a flat or slightly upward-trending neckline. For a head-and-shoulders bottom, it should be flat or slightly downward.

But in any case H&S is only proven after the neckline is broken. :)
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