head and shoulders on eur/aud

[kcjonezen]

I am fairly new, but is that a classic head and shoulders shaping up on the eur/aud 8 hour chart? Thanks for your comments!

[yunny1]

Yes, looks like a H&S (still forming), but check the daily, weekly and monthly charts before trading it, we are at record lows for this pair

[kcjonezen]

Thanks! Yes unfortunately I was on the business end of the steep drop last December. It was my first good lesson learned.

[Dominator4fx]

Yes, looks like a H&S (still forming), but check the daily, weekly and monthly charts before trading it, we are at record lows for this pair

Looking at the Head and Shoulders pattern we can get a good idea of the price at which we must enter in the EURAUD