The following is the hourly chart of AUDNZD as of Jan. 17th, 10 PM EST. If you observe this you can see that there is a head and shoulder format is formed with a neck line. If the neck line is broken with a strong bearish candlestick its a good opportunity to go for a short trade. What do you guys say?
AUDNZD Hourly Chart:
AUDNZD Head and Shoulders Format
The strategy is very simple and works very well. You can find a lot of trading opportunities using this strategy. This strategy involves only parabolic SAR indicator with default settings. Indicators: Parabolic SAR with default settings (Step: 0.02, Maximum: 0.2) Time Frame: Hourly But you need to observe the parabolic SAR on the higher time frame of daily chart. Markets Sessions … [Read More...]
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