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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Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.