MWFX
Short

Descending Channel with a Head & Shoulder Pattern

FX:EURAUD   Euro / Australian Dollar
Price is slowly moving toward the Right Shoulder of the Head & Shoulder Pattern and its right at the Descending trend line .
If it touches the Trend line ill be Shorting this pair and taking it as a swing trade.

Comments

great set uo, plus the swaps will be a bonus. I am already short with similar target.
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MWFX Mutiso
@Mutiso, Nice one im still waiting for confirmation before going Short.
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but doesnt the fact that the right shoulder exceeds the left shoulder, invalidate the entire pattern?
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MWFX DynastyCapitaGroup
@DynastyCapitaGroup, Not really Right shoulder is Higher because it might form an inverted Head & Shoulder Pattern
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I like your chart,
wish u can Follow me.
and you can refer to my publish.
We can do more discussion.
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