head and shoulders pattern on overbought market

4 févr. 2019

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!

4 févr. 2019

Note

one more retest of neckline

5 févr. 2019

Note

Bounce from 0.72

5 févr. 2019

Note

again the market is below the neckline

6 févr. 2019

Note

hit the initial target

8 févr. 2019

Trade fermée: cible de profit atteinte