justatrader

AUDUSD - Head and Shoulders?

FX:AUDUSD   Australian Dollar / U.S. Dollar
H4 - head and shoulders pattern followed up with a wedge near the right shoulder. Final target down to 0.733. Break of the trend line and test of resistance turned support at 0.77163 could invalidate the idea. For now patterns look favorable to the downside and offers a very decent RR.

Could be a good hedge against EURAUD shorts, if you have entered a bit late into the trend.
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