FX:AUDUSD   Australian Dollar / U.S. Dollar
91 3 0
I'm long, but if only broke neckline
Forgive me if I'm being too blunt ?
I'm sorry, but, that is nothing close to a head and shoulders:
It is, however, a down trending channel, if you draw a tend line across
the lows and an example of selling the trend line short for trend
continuation and/or your idea of buying the break of the trend line
for a potential trend reversal.
Perhaps something like this would help ?
http://www.chartpatterns.com/headandshoulders.htm
Wishing you lots of pips in 2014 !!!!!
Once again forgive me for being soooo blunt !!!!
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mpiccato dojitrader
If you see now where is AUD/USD, you will see that I had reason. Exist HCH no conventional; here is!
Reply
dojitrader mpiccato
what I tried to say was, IF this trade succeeds, and I'm glad it did for you,
it will be because it was a descending trend line break and not a H&S.
To me it's an important distinction from the point of a measured move
and where to place your entry and stops.
But, since you did neither on the chart, we just don't know, do we ?
Reply
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