head and shoulders pattern on overbought market

Good morning, traders.

on audusd pair we have nice head and shoulders pattern in a clearly overbought market.
Just couple of hours ago the market has violated the neckline.
It gives us an opportunity to sell the market anticipating a bearish movement.

Targets are based on structure.
Stop is above head.

Good luck!

Kommentera:

one more retest of neckline

Kommentera:

Bounce from 0.72

Kommentera:

again the market is below the neckline

Kommentera:

hit the initial target

Trade stängt: målet nått