Fxprotrader
Short

EURAUD Head & Shoulders Completion To Drop Price Lower

FX:EURAUD   Euro Fx/Australian Dollar
8 months ago
Not a crystal clear, but price has formed a head and shoulders pattern, and it's now heading sharply towards the neckline of the pattern. We should watch for a breakout below the line, and depending on our strategy wait for any sell setup to complete.
8 months ago
Comment: Price is in a consolidation, testing the neckline of the pattern. A breakout below this structure signals a sell setup
snapshot
8 months ago
Comment: Press "play" at the main chart to see the structure live
8 months ago
Comment: Price broke below the corrective structure
snapshot
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ChetanFX
8 months ago
There is a very high chance of bounce from the neckline..
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Fxprotrader PRO ChetanFX
8 months ago
No problem with that.. We will only trade this setup if price breaks below.. Thanks for your comment..!
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IvanLabrie PRO
8 months ago
Seems like a good one.
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Fxprotrader PRO IvanLabrie
8 months ago
Thank you Ivan..
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Hiisham
8 months ago
I don't thinks So he face a trend and a fibo he was in a up trend taht's is a correction I'm a Buyer from 61 fibo
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mahmoodnoori
8 months ago
Thanks .
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Fxprotrader PRO mahmoodnoori
8 months ago
You are welcome mate
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IshanTripathi
8 months ago
So do you think the price will retrace back to 1.5200 before it goes down again?
If someone is seeing the chart now, should we wait for the price to retrace back.

Thanks for the chart though, really helpful.
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Fxprotrader PRO IshanTripathi
8 months ago
After a breakout, most of the times we have a small correction. That's what this small arrow represents.. If it retraces it will give us a better risk/reward setup.. But it might drop without a retrace.. I hope that helps..
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IshanTripathi Fxprotrader
8 months ago
Yea it does help... Appreciate it
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Fxprotrader PRO IshanTripathi
8 months ago
Ok i am glad for that.. By the way, it looks like it's coming back for a correction..!
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IshanTripathi Fxprotrader
8 months ago
YEs..I am keeping a track... I have not entered yet..
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IshanTripathi Fxprotrader
8 months ago
HI.. Was in correction for a long time. . Now it does look like it might break again..
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