A potential H & S pattern seems to be developing on weekly TF on AUDUSD. The blue lines represents concrete psychological support and resistance drawn from monthly charts. The right shoulder is yet to completed here! Shall it complete, we need to wait for vital confirmation: the monthly candle needs to close below 0.7000 level. After this a SHORT trade can be executed based on the RR to target the next support at 0.65000
THIS JUST REPRESENTS MY ANALYSIS ON THIS PAIR AND ITS NOT A TRADE SIGNAL. I HAVE MANY PAIRS THAT I MONITOR AND ALL OF MY TRADES ARE ON W, D , 4H TIMEFRAME (SWING TRADES). ITS NOT POSSIBLE TO POST ALL OF MY ANALYSIS HERE, HOWEVER I POST TRADE SIGNALS WHEN THE CRITERIA IS MET ON THE FX PAIRS I MONITOR. FOLLOW & LIKE TO RECEIVE FREE FX SWING TRADE SIGNALS CHEERS.