AUDUSD inverse H&S
Updated
The previous trade was picture perfect getting in at the high and taking profit at the low. I said we might get a reversal and some have asked me why i did not trade that reversal, for me that is simple:
I don't like to trade the same coin too many times in a row, because that increases the risk of getting emotional on a trade. If i would not have shorted it and was just watching the price, i would have probably gone long. So playing both ways is not a bad idea, it just can be tricky, that's all i am trying to say :)
Safe play here is waiting for the breakout and the pullback to the neckline (red zone) again.
Previous analysis
I don't like to trade the same coin too many times in a row, because that increases the risk of getting emotional on a trade. If i would not have shorted it and was just watching the price, i would have probably gone long. So playing both ways is not a bad idea, it just can be tricky, that's all i am trying to say :)
Safe play here is waiting for the breakout and the pullback to the neckline (red zone) again.
Previous analysis
Note
Neckline broke with a good strong move, testing neckline now.Note
Seems the previous move was not strong enough, even though it looked that way. Anyway, now we have clearly broken the neckline and we can move the stops towards the neckline now for a free trade :).Note
Nasty drop but that's part of the game. Would have been an easy an easy re entry at that bull flag, but Bitcoin was getting al the attention today :(Note
The inverse H&S seems to be triggered now, want to see it move a bit higher before getting a pullback to the neckline.
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