AUD/USD: two H&S options coming up
Hi guys
Today we are looking at AUD on USD. In the left top we are looking at an 4h chart. Right top we see the Average Directional Index. Bottomside we have a week chart.
- 2 Head & Shoulders options to discuss :
1) If we take a look on the 4h chart we can see a inverse H&S that has the outcome to go strongly upwards. I'm guessing that we can reach the level where we started the H&S.
Trade: I would go in twice : 1) go in at 0,78699 and take profit on 0,79101. This trade has a reward/risk of 1,48.
2) go in at 0,78700 and take profit on 0,79500. This trade has a reward/risk of 2,94.
2) if we take a look on the 1week chart we can see a normal H&S that has the outcome to go in a downtrend.
Trade: Also 2 times: 1) go in at 0,78225 and take profit on 0,77648. This trade has a reward/risk of 2,63.
2) go in at 0,78254 and take profit on 0,76470. This trade has a reward/risk of 9,62.
Looking at the right top screen we see the ADX that can touch the support line and go up again to a strong uptrend. Just to be sure, I would wait a couple of hours to choose between option 1 or 2. If I had to choose immediately, I'm putting my money on option number 1 but hoping on option 2 to have more profit...
I'm hoping that you guys can take some profits out of it . Let me know what you guys think !
Today we are looking at AUD on USD. In the left top we are looking at an 4h chart. Right top we see the Average Directional Index. Bottomside we have a week chart.
- 2 Head & Shoulders options to discuss :
1) If we take a look on the 4h chart we can see a inverse H&S that has the outcome to go strongly upwards. I'm guessing that we can reach the level where we started the H&S.
Trade: I would go in twice : 1) go in at 0,78699 and take profit on 0,79101. This trade has a reward/risk of 1,48.
2) go in at 0,78700 and take profit on 0,79500. This trade has a reward/risk of 2,94.
2) if we take a look on the 1week chart we can see a normal H&S that has the outcome to go in a downtrend.
Trade: Also 2 times: 1) go in at 0,78225 and take profit on 0,77648. This trade has a reward/risk of 2,63.
2) go in at 0,78254 and take profit on 0,76470. This trade has a reward/risk of 9,62.
Looking at the right top screen we see the ADX that can touch the support line and go up again to a strong uptrend. Just to be sure, I would wait a couple of hours to choose between option 1 or 2. If I had to choose immediately, I'm putting my money on option number 1 but hoping on option 2 to have more profit...
I'm hoping that you guys can take some profits out of it . Let me know what you guys think !
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