AUDJPY (3d) - What a monster!

FX:AUDJPY   Australian Dollar / Japanese Yen
I've often seen head and shoulders patterns that take on strange shapes. It is not common to find a very neat head and shoulder pattern.

Well this one caught my eye. It's a weird one . On the left is three humps combining into the tradtional shoulder. On the right is some kind of shoulder that doesn't appear well formed on 3D time frame, though more clearly visible on 1D time frame.

Head and shoulders are not predictive and require a lot of skill to play out. There are often times heavy losses, and a retest of the base is not uncommon.

I don't suggest that 3D time frame is traded. It's sometimes good to get a steer from a higher time frame.

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