H&S been forming since 6th January, broke through the neck line at the end of the month.
Profit target is based on previous structure, as is the stop loss.
Fundamentally, I think that a drop like this makes sense. Australia is seeing a lot of good economic data at the moment, so I think that in the near future we should see a rise in the AUD due to more positive investor sentiment. ECB stimulus adds to this.
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Stop just about reached. I am going to watch to see how this would have evolved with the stop at the very top of the right shoulder as part of my testing.
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Would have stopped out even with a higher stop loss. Just one of those trades.