OANDA:AUDUSD Australian Dollar / U.S. Dollar
Here on AUDUSD , we can see a clear inverse Head and Shoulder pattern in development.
After price has strong phase down from the left shoulder correction, we did not see further downside continuations.
Instead, what we see is a reversal impulse phase, this is a first sign and clue from the price that the momentum could be exhausted.
Latest development after a impulse up, was followed by a channel/flag like correction,
this leads to a right shoulder development of an inverse H and S pattern.
We can now see price has indeed impulse out of the correction now,
so good idea to wait for last confirmation of a LTF continuation correction to develop and finish, before jumping into the buy to the recent tops.