There is potential Short position developing for AUD/USD.
Price created flag formation with 3 touches and ascending channel/wedge at the end of the 3rd touch-reversal signal.
We need confirmation to go short in the form of smaller ascending channel or reversal candle formation: engulfing black, evening star etc back to the ascending channel and close it on 1 h chart. If that will happen I will go short.
Price may go up even higher above the flag to test previous high, so wait patiently for the setup to develop.
Price created flag formation with 3 touches and ascending channel/wedge at the end of the 3rd touch-reversal signal.
We need confirmation to go short in the form of smaller ascending channel or reversal candle formation: engulfing black, evening star etc back to the ascending channel and close it on 1 h chart. If that will happen I will go short.
Price may go up even higher above the flag to test previous high, so wait patiently for the setup to develop.