GBPAUD H4 Incoming Head'nShoulders

Feb 13, 2019

GBPAUD has been forming the Right Shoulder of a Head and Shoulders pattern. My target is on the chart. A four hour candle with decent volume should close under the neck in order to jump in. According to risk appetite, a candle closure under the closest support channel might be waited. RSI indicating excessive sale would also confirm this trade.

Feb 13, 2019

Note

I've just noticed the miss guide with RSI in the analysis above. Just forget about RSI part. Excessive sale can confirm a long position entry, not this one. My bad..

Mar 9, 2019

Order cancelled