This article I mainly talk about .
Look at on the chart :
- Firstly, Indicator: It is testing the key descending now: If it breaks this , the is confirmative.
- Secondly, I see a clear Head and Shoulder pattern on the chart, and AUDUSD now test the neckline of pattern, if it breaks the neckline, downtrend is confirmative.
- Thirdly, Kumo cloud now is at 0.7150, and it is very thin. So A/U is very easy to break it. If A/U breaks Kumo cloud, one more downtrend signal.
I place a SELL Stop position at 0.71500, Stop loss at 0.7200, Take profit at 0.7040