Naked Price Chart Trading

Trade set-ups for 05/15/2015


Currency Pair: EURAUD
Closing Price: 1.4115
Entry Order: BUY stop @ 1.4143
Stop loss: 1.4095
Take profit: 1.4387

Analysis: This pair has formed BOTH, an inverted head-and-shoulders and a double-bottom price pattern. Should follow-through quickly after today’s large key reversal price action. i see a large potential gain in this pair over the next few days - and weeks ahead.

Hi MWS,

Can you please explain little bit more about your analysis.

Inverted head and shoulders and a double bottom price pattern, it is not new to me but I don’t trade like this way so I want to learn about your trading approach.