Australian Dollar / U.S. DollarEducation
AUDUSD Inverted Head N Shoulders
For those that may have issues identifying inverted head n shoulders.
You can use the higher time frames to see if the picture is clearer.
The lower time frames can give you a lot and make a bad trade setup especially if you are not with the trend or not near significant price.
By that I mean if you are not at resistance or support, if you find yourself in the middle of nowhere let price touch that area first then reactive after.
You could have enter at the right shoulder at the opening of New York session, fortunately this trade had no drawdown but you could have given your self a 15 pip stop loss.
This overall trade hit TP for 55 pips it took about a day because AU is a slow moving pair.
You can use the higher time frames to see if the picture is clearer.
The lower time frames can give you a lot and make a bad trade setup especially if you are not with the trend or not near significant price.
By that I mean if you are not at resistance or support, if you find yourself in the middle of nowhere let price touch that area first then reactive after.
You could have enter at the right shoulder at the opening of New York session, fortunately this trade had no drawdown but you could have given your self a 15 pip stop loss.
This overall trade hit TP for 55 pips it took about a day because AU is a slow moving pair.
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