MaryJane

Ding Dong -Target 2 reached

FX:AUDUSD   Australian Dollar/U.S. Dollar
46 0 7
These days we have reached the TP2 of the SHS             .

former Analysis:
New Cyclical Low?
New Cyclical Low?

The neckline Support turned into a resistance. The main trend is still bearish . With Prices less than 0.726 i exspect the next downwave to my max. target shs             @0.7036
The Chart only turns bullish with Prices above 0.7462

AUDUSD             reached Target1 TP1
AUDUSD reached Target1 TP1

The Pair reached TP1, the min. target of the shs             . Now target 2 @ 0,7 can be aimed.

Retest neckline?
Retest neckline?

The H&S is triggered. The neckline is based at the "2" - a break of it a nice 1-2-3 pattern (https://www.tradingview.com/chart/EURUSD/Xjknpt4S-Introduction-into-1-2-3-Trading-Pattern/) IMO a retest of the neckline should be exspected before the final "sell-off" comes.
A retest is typical for H&S and a good entry for shorts for those who have missed the train. :-) Perhaps this could be a nice example for a Ross Hook.
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