Recently I published the AUDUSD was forming a H&S pattern although the left shoulder was still in formation and at times this can be difficult to determine whether this particular pattern is in formation.
Recently, I have confirmation from my analysis that this pattern is now ready to break lower, however to be conservative I've drawn in two necklines which would both need to be broken to confirm the H&S pattern.
I will enter a small trade size upon the break of the first immediate neckline/trendline break and then add if the lower potential neckline is broken to the target area indicated in the chart.
Keep an eye as I will update the progress of this trade. Remember, each planned trade should become a mini project and you should always try and estimate your entries, exits and whether your analysis is still valid.
For more information please sign up to my website in development to get exciting releases and information to aid your trading: www.ejfxtrading.com
Recently, I have confirmation from my analysis that this pattern is now ready to break lower, however to be conservative I've drawn in two necklines which would both need to be broken to confirm the H&S pattern.
I will enter a small trade size upon the break of the first immediate neckline/trendline break and then add if the lower potential neckline is broken to the target area indicated in the chart.
Keep an eye as I will update the progress of this trade. Remember, each planned trade should become a mini project and you should always try and estimate your entries, exits and whether your analysis is still valid.
For more information please sign up to my website in development to get exciting releases and information to aid your trading: www.ejfxtrading.com