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RCP
Aug 13, 2015 9:38 AM

EURAUD: Head & Shoulders setup (2 head is there as well) Short

Euro Fx/Australian DollarFXCM

Description

Here we have a potential Head & Shoulders setup with nice profits.

Look at RSI, its making lower highs, so bulls are weakening and its time for bears to go in action.
The green zone is potential profit zone, where I think price could consolidate for a while in this zone.

I want to mention that you should watch the price action carefully, however there is a potential double top formation as well.

Wish you a good trading day.
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