FX:GBPAUD British Pound/Australian Dollar
Hi, mate. I suppose, technically, this HS pattern is valid, but it's very ugly. I like HS's necklines to be horisontal or so. It means that we have a support level tested twice before the breakout. The idea is to trade a breakout of support/resistance. the stronger the level the better. When we see a horisontal line we have a precise quote acting as a strong level. Trendlines and curves cannot be presice quotes and are seen only on charts. Remember, 80% of traders are fundamentalists, they don't use charts to make trading decisions. They use news, emotions and quotes.