AUDUSD: Could the H&S be the main trend driver now?
The Aussie has finally broken the Neckline of an H&S price pattern.
However, reading from a straight 300 pips fall since 11/06, a corrective adjustment back to the FL0.7600 area is very likely where this level is also the 50% retracement of the Weekly Candle.
IMO, entertaining a small frontrunner Short with bearish signal at the Pullback to the 0.7600 is not a bad idea, and scale-in after Aussie breaks the Neckline again with convincing bearish signals.
The Measured Objective is at the 0.7120 areas but FL0.7420 & 0.7250 are two areas that need close attentions.
Disclaimer: “Trade at your Own Risk!”
However, reading from a straight 300 pips fall since 11/06, a corrective adjustment back to the FL0.7600 area is very likely where this level is also the 50% retracement of the Weekly Candle.
IMO, entertaining a small frontrunner Short with bearish signal at the Pullback to the 0.7600 is not a bad idea, and scale-in after Aussie breaks the Neckline again with convincing bearish signals.
The Measured Objective is at the 0.7120 areas but FL0.7420 & 0.7250 are two areas that need close attentions.
Disclaimer: “Trade at your Own Risk!”
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.