Starting the New Year with a 4H chart of AUDUSD
Happy New Year everyone! The name is Mud, I just wanted to share my chart and see what everyone thinks. I am new and always learning. This is just my idea please trade carefully and nothing I post is advice.
As you can see there was a head and shoulders showing upward momentum followed by a rising wedge causing a breakout downward then forming another rising wedge. This is where I am thinking it will drop and rise again for
a conformation before it falls again to the demand zone. I also put on there the prediction of heights following the breakout points, labeled A and B.
I will go short on this trade around 0.67752, stop loss at 0.68942 and my first take profit at 0.66454. Any critiques, advice or anything is greatly appreciated for like I said I'm always willing to listen and learn.
Thank you everyone for your time.
Very respectfully,
Mud
As you can see there was a head and shoulders showing upward momentum followed by a rising wedge causing a breakout downward then forming another rising wedge. This is where I am thinking it will drop and rise again for
a conformation before it falls again to the demand zone. I also put on there the prediction of heights following the breakout points, labeled A and B.
I will go short on this trade around 0.67752, stop loss at 0.68942 and my first take profit at 0.66454. Any critiques, advice or anything is greatly appreciated for like I said I'm always willing to listen and learn.
Thank you everyone for your time.
Very respectfully,
Mud