Head and Shoulders on AUDJPY
Hi folks,
Just modifying my previous idea a little. Looks like it wasn't a cup and hand formation, seem to be forming a bullish head and shoulders instead.
The orange line is the lowest point of the left shoulder so technically the right shoulder should not go past that. But anything can happen so stay prepared.
The green line is the textbook target for the head and shoulders pattern. It was calculated using the same height as the head.
All the best!
Just modifying my previous idea a little. Looks like it wasn't a cup and hand formation, seem to be forming a bullish head and shoulders instead.
The orange line is the lowest point of the left shoulder so technically the right shoulder should not go past that. But anything can happen so stay prepared.
The green line is the textbook target for the head and shoulders pattern. It was calculated using the same height as the head.
All the best!
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