FX:AUDUSD   Australian Dollar / U.S. Dollar
AUDUSD             looks to me like it might drop slightly from where it is at right now to form the second shoulder of the H&S pattern.

Reasons I will be looking for longs in green zone :

Potential formation of second shoulder
Potential confluence of 50&100 EMA
Trendline
Potential ABCD formation completion (if price does indeed go down from where I marked on trade idea I will post in comments)
Will keep an eye on RSI , doubt it will be oversold unless price falls quickly toward the potential longing zone.

I will post short setup I am eyeing out (please note I will not be taking this one as it is more counter trend on my timeframes & I focus primarily on trend trading only) in the comments here if it occurs & will update this chart on any long setups (post confirmations) that might occur in identified longing zone.

Comment: Orange zone is where I would look for a shorting opp on this one & red zone is where I believe price will potentiall find the largest amount of resistance. I will post is price does anything that suggests we are in for a sell off

Comment: after a bried pause, price blasted through the point of most resistance.
The momentum behind the move is strong so need to see a very strong reaction from the bears in order to short this - will update if/when it happens

Comment: Price has now dropped to potential buy area with massive mometum, I will be watching the price action here when I can (night time here) to find an entry. At this point in time, the long from here is not appealing unless we see a big reaction from bulls. If this trendline breaks and we keep plummetting, another potential head and shoulders is forming in the other direction.

Comment: bearish HS pattern is now possible too

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out