AUD/USD 1H
Updated
Price has been consolidating and formed a small "Head & Shoulders" at resistance
looking to go short and TP between 0.71600 and 0.71500.
I am looking at this consolidation has a precursor to a major bearish move. KEEP CHECKING!
looking to go short and TP between 0.71600 and 0.71500.
I am looking at this consolidation has a precursor to a major bearish move. KEEP CHECKING!
Note
BTW for those who want to a position trading, this might be a great opportunity as well.On the weekly timeframe price action is sitting at a completion on a head & shoulder pattern. You can look at TP @0.63400, @0.60300 or @0.57000
Or, you can stretch it to TP @0.50000 at the completion of a "Super Head & Shoulders" LOL
Note
Not looking good for short that soon. Still with a bearish bias. I think this channel might continue for a while. Which in a way can be good for a stronger momentum.
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