Captain_Walker

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.

Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, or miss opportunity, kindly sue yourself.
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