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!”
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.