3 layer support

After break middle channel line, AUDUSD perform Head and shoulders pattern
and rightnow try to retest neckline.
Short position at neckline its a good idea to aim +62 pip at 0.7895 (use your money management rule for stoploss)

dont aim for more bearish unless bearish continuation confirmation break down, coz at 0.7895 there are 3 layer support :
#triple bottom (support zone)
#trendline support
#fibonacci support

Disclaimer :
This analysis not include personal feeling/opinion, and pure base on technical analysis
Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.

Commentaire:

note : pattern failed if channel down break up

Trade fermée: cible de profit atteinte:

+62 pip