justatrader

EURAUD - (Possible) Larger Head and Shoulders in the making

FX:EURAUD   Euro / Australian Dollar
Weekly chart says it all. Provided price makes a proper right shoulder. For now, looking at 1.49 through 1.515 level for the right shoulder to stall and reverse. Possible downside targets come in at 1.29 through 1.252. If the Head and Shoulders is indeed validated, this would be one heck of a trade to just 'Sell and Hold'

Waiting for further clues!!!

Comments

Yeah, now we're digging in to this support zone. I have just closed my short position. I think it's done enough. I'll be waiting for your right shoulder to complete itself and enter short again.
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