AUDUSD has seen a decent sell off from a high resistance area & I believe further downside is imminent. Would set sell order higher up as I believe a small bull trap to this point may occur & more importantly, taking a trade with less than 1:1 RR is not advisable (would be the case if you just opened a sell here).
Sell order is placed on the potential second shoulder of a very wonky head and shoulders formation.
Please note, I will not be taking this trade personally as I am not trading counter-trend setups at this point.
This is a short setup in a potential bullish head and shoulders that will form if target 2 on this trade is hit.
Please see related idea for more info on the more medium term long setup that may occur.
Sell order is placed on the potential second shoulder of a very wonky head and shoulders formation.
Please note, I will not be taking this trade personally as I am not trading counter-trend setups at this point.
This is a short setup in a potential bullish head and shoulders that will form if target 2 on this trade is hit.
Please see related idea for more info on the more medium term long setup that may occur.
Comment:
idea is invalid now, but longer term scenario playing out well
