EURAUD Head & Shoulders enter now

H&S been forming since 6th January, broke through the neck line at the end of the month.

Profit target is based on previous structure, as is the stop loss.

Fundamentally, I think that a drop like this makes sense. Australia is seeing a lot of good economic data at the moment, so I think that in the near future we should see a rise in the AUD due to more positive investor sentiment. ECB stimulus adds to this.

Trade stängt: Stopp nått:

Stop just about reached. I am going to watch to see how this would have evolved with the stop at the very top of the right shoulder as part of my testing.

Kommentera:

Would have stopped out even with a higher stop loss. Just one of those trades.