jangseohee

EURAUD, Head & Shoulders shrugged

FX:EURAUD   Euro Fx/Australian Dollar
71 0 3
Just 5 days ago, my first post for EURAUD             on high alert on "Fail" (remember this word) Head & Shoulder pattern, i anticipated only path 1 or path 2.
Just two days ago i followed up with another one showing EUR AUD took path 1 to challenge downtrend channel top. So instead of breaking the neckline and plunge, price found support at the neckline and shot up. As price is way too far (qualitatively) away from my favorite 8ema (which can be wrong at times), i shorted at 1.45450 (technically speaking breaking out of downtrend channel top should be BULLISH ), and i warned you all that it might test for 1.46000!!! And i shorted again at 1.46150 anticipating that the downtrend channel will hold if Draghi understand "Channel" and yes he did!
Now again, price plunge too fast away from my 8ema, i took all my profit as at 1.42449.

Two different short trade, two different profits
1. 1.45450 (suffered major losses overnight) - 1.42449 = 0.03001
2. 1.46150 - 1.42449 = 0.03701

Again, i anticipate 2 more paths as shown which might not happen accordingly.

There is an additional right shoulder formed now which is why i name it shrugged!
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