HEAD AND SHOULDER Analysis
🎯AUDCAD has formed a clear head and shoulder pattern.
🎯The head is clearly notable, Left shoulder and Right shoulder are equal.
🎯Now, the market standing at the neckline. Let’s wait for the confirmation of a breakout at the neckline.
AUDCAD moving in an uptrend line forming higher highs, higher lows.
Recently, AUDCAD has broken the higher low (bottom) of the uptrend line.
But, We still need more confirmation for entering the Sell trade because AUDCAD didn’t fall or make retracement for a long time.
Wait for a breakout at the neckline of the head and shoulder pattern to catch some big move in the market.
How to trade head and shoulder pattern? check here: Head and Shoulders strategy
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