UPDATE - AUDCHF H&S FORMATION (REVERSAL??)
Updated
The right shoulder has been formed. Creating a reliable head and shoulder pattern. Given the angle of the neckline, this seems to be a strong reversal signal. Possible downtrend to follow.
Wait for confirmation before entering position. Break of neckline 1st Confirmation. For further confirmation traders may wait for retest of neckline and if resistance holds, they may short.
*Price Action usually retests but this is not guaranteed*
Follow my page for similar trade ideas.
Trade at your own risk.
This should not be taken as financial advice, just my own trade idea.
Wait for confirmation before entering position. Break of neckline 1st Confirmation. For further confirmation traders may wait for retest of neckline and if resistance holds, they may short.
*Price Action usually retests but this is not guaranteed*
Follow my page for similar trade ideas.
Trade at your own risk.
This should not be taken as financial advice, just my own trade idea.
Note
Currently consolidating, expecting big break to the downside by New York Open Monday
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.