AUDNZD Head and Shoulders w a Cherry on Top
Updated
If you'll remember I shorted AUDNZD from 1.0709 last week due to the broken support trendline, this support trendline was the support for the triple top on the 1h.
On the 4h, we have a head and shoulder formation. I drew this up last night and expected another move to 1.0710, but price did not breach 1.0700.
Now, we can see that the neckline was broken in the last couple 4h candles. Price will not significantly move until Tyo session, and then will be drastically impacted by Trump's speech to congress.
Overall, this is a short position that I am still holding, and will be looking to add to during London.
On the 4h, we have a head and shoulder formation. I drew this up last night and expected another move to 1.0710, but price did not breach 1.0700.
Now, we can see that the neckline was broken in the last couple 4h candles. Price will not significantly move until Tyo session, and then will be drastically impacted by Trump's speech to congress.
Overall, this is a short position that I am still holding, and will be looking to add to during London.
Note
Still holding, have patience and confidence in your trading plan. Pulling this trade manually and too early would not be good for a trader's emotional state. Every trade should be emotionless.Note
Stop loss hit.
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