BUY AUDNZD
- Head and shoulders completing on the four hourly chart
- Broken above the channel on the hourly and has currently retouched
- Teacup pattern evident on the hourly signalling buy opportunity
- Stoch shows the pair is oversold
- Prior support, now turned resistance (yellow horizontal line)
SUGGESTED TRADE
ENTRY 1.0720 area or 1.0790 (completed head and shoulders pattern)
TP1 1.0850
TP2 1.0925
- Broken above the channel on the hourly and has currently retouched
- Teacup pattern evident on the hourly signalling buy opportunity
- Stoch shows the pair is oversold
- Prior support, now turned resistance (yellow horizontal line)
SUGGESTED TRADE
ENTRY 1.0720 area or 1.0790 (completed head and shoulders pattern)
TP1 1.0850
TP2 1.0925
Note
In this analysis I had prematurely marked the shoulder. Price has now reached back to 1.0790 to complete the head and shoulders pattern which remains valid.
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