HEAD & SHOULDERS ON AUD/USD
AUD/USD 4H - As you can see price looks to forming a higher timeframe Head & Shoulders, if you look here you can see we have had the creation of the first Shoulder and Head.
We now want to see the second shoulder form, this is where we can look to enter in from, I have gone ahead and marked out a point of interest I feel price will come to trade up and into before taking us lower once again.
This area of interest highlights an Order Block that has been left unmitigated, I want to see price trade in reject to the downside and break structure fractally, this will confirm the end of the correction and the start of the next leg taking us lower.
To build our confluence we have been delivered with not only a higher timeframe break of structure post higher timeframe penetration but also a higher timeframe head and shoulders pattern form.
We now want to see the second shoulder form, this is where we can look to enter in from, I have gone ahead and marked out a point of interest I feel price will come to trade up and into before taking us lower once again.
This area of interest highlights an Order Block that has been left unmitigated, I want to see price trade in reject to the downside and break structure fractally, this will confirm the end of the correction and the start of the next leg taking us lower.
To build our confluence we have been delivered with not only a higher timeframe break of structure post higher timeframe penetration but also a higher timeframe head and shoulders pattern form.