Head and shoulder on AUD/JPY?

Looks like one to me (but I’m newbie) - we’ll see :slight_smile:

And if I passed 7th grade correctly, that would be a descending triangle - seems like it should really be going down…

Guess it takes more than patterns to trade :slight_smile:

Perhaps someone with more experience could explain what has happened how how I could have seen that the patterns were false alarms?


i’m probably as newbie as you are, but if you go back to 7th grade, you’ll find that, besides being a descending triangle, price could go up or down, usually it takes the downside. It would be nice to see other timeframes just to find out what made the price rise after breaking the temporary support line. And even some fundamentals, news release maybe.

Take care