AUD/USD looking for double bottom. back bellow 2016lows
AUD/USD I am looking for a completion of a Head and shoulders stared on aug/31. Enough selling pressure can blow thru the 2nd shoulder and end up down at key support levels formed on sep-10. The above checkered red line is previous lows from Dec/2016. This is now a key resistance level that must be broken.
I would only enter this trade with more confirmation of a reversal and indication it is sticking to a double bottom/h&s pattern. Stop loss will be set tight, looking for 50-75 pips intraday, stop loss set tight. Longer trade can amount to 150pips.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
Completed 5:09pm LOS ANGELES.
I would only enter this trade with more confirmation of a reversal and indication it is sticking to a double bottom/h&s pattern. Stop loss will be set tight, looking for 50-75 pips intraday, stop loss set tight. Longer trade can amount to 150pips.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
Completed 5:09pm LOS ANGELES.