Head and Shoulder Trading plan: AUD/NZD

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By Deya Hroob


This trade set up is based on 4h chart.

AUD/USD is forming a well-known pattern Head and Shoulder. This is a reversal pattern. The confirmation comes when price breaches below the neckline. ( we prefer a closed candle)

 Put sell order below the neckline with stop loss just above the right shoulder.

 If you miss the breakout, you can trade the retest of the neckline, in the Head and Shoulder pattern price usually retests the broken neckline and then continue falling. When this happens, it gives us a reliable trade set up.

Good luck, 

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