WK29, AUDUSD, short 1H, wedge
4H analysis
Price is trading within a ascending wedge. Lower trendline is steeper then the upper line so we may see a downward push.
1H analysis
H&S formation at the upper trendline.
Price broke the shoulder and has now retested and is forming an engulfing candle.
Missed the entry point for a sell order is set at 0.6988 in-case of the next candle having some small final push to the upside to trigger.
TP1 - 0.69345 (R:R 1.69) Local structure
TP2 - 0.69010 (R:R 2.75)
Price is trading within a ascending wedge. Lower trendline is steeper then the upper line so we may see a downward push.
1H analysis
H&S formation at the upper trendline.
Price broke the shoulder and has now retested and is forming an engulfing candle.
Missed the entry point for a sell order is set at 0.6988 in-case of the next candle having some small final push to the upside to trigger.
TP1 - 0.69345 (R:R 1.69) Local structure
TP2 - 0.69010 (R:R 2.75)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.