EURAUD H&S Right Shoulder Trend Break
Hello,
We are waiting for the Right Shoulder's minor uptrend to break, for a retest into a short position towards the neckline. Potential R:R 1:4, during 2nd leg down after retest I am taking half profit and waiting for a minor break of structure to add additional short positions in the formation of a lower high and move SL to above the last lower high.
Will be updating after break of trend.
PS. Not financial advice, this is for my own documentation and shared education.
We are waiting for the Right Shoulder's minor uptrend to break, for a retest into a short position towards the neckline. Potential R:R 1:4, during 2nd leg down after retest I am taking half profit and waiting for a minor break of structure to add additional short positions in the formation of a lower high and move SL to above the last lower high.
Will be updating after break of trend.
PS. Not financial advice, this is for my own documentation and shared education.
Trade active:
Short position taken after the retest.
Comment:
Second entry added on the lower timeframe with a 1:5 RR at 1.616 - 20SL-100TP
Comment:
Running 50+ pips in profit
