This is just a quick explanation of how I would have traded the head and shoulders formation that happened on the Daily AUDUSD. The chart is on the hourly because that is where I derive my trade logic. The indicators I use are not available on tradingview, so I cannot display those.
The entry/stop/exit are shown as zones because I am not sure exactly how the...
Seems that the GBPJPY is trying to force its way out the top of a wedge. A good stopping point would be the daily resistance (magenta horizontal line). Maybe even a little earlier. Anyway, just an idea I saw.
