AUD/USD - SWING TRADE TO THE DOWNSIDE (HUGE POTENTIAL)
For this setup we have:
-Daily Head and Shoulders Pattern
-Major 61.8 Fibonacci retracement
-Minor 161.8 Fibonacci retracement
-Major trendline 3rd touch resistance
-End of minor channel resistance
-Minute Wave 2 completion of a Minor Wave 3
We will need to wait and see the reaction of the confluence zone identified near the 0.68000 price level, if the zone doesn't hold, expect price to extend to the major 78.Fibonacci retracement as shown on the chart.
Technically speaking the setup identified is offering a generous risk to reward with lots of potential to the downside.
SL scenarios: 0.68500, 0.68700
TP1: 0.66750
TP2: 0.66200
TP3: 0.65500
Please feel free to send me a message in regards to any questions, feedback or suggestions that you may have.
Enjoy!
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-Daily Head and Shoulders Pattern
-Major 61.8 Fibonacci retracement
-Minor 161.8 Fibonacci retracement
-Major trendline 3rd touch resistance
-End of minor channel resistance
-Minute Wave 2 completion of a Minor Wave 3
We will need to wait and see the reaction of the confluence zone identified near the 0.68000 price level, if the zone doesn't hold, expect price to extend to the major 78.Fibonacci retracement as shown on the chart.
Technically speaking the setup identified is offering a generous risk to reward with lots of potential to the downside.
SL scenarios: 0.68500, 0.68700
TP1: 0.66750
TP2: 0.66200
TP3: 0.65500
Please feel free to send me a message in regards to any questions, feedback or suggestions that you may have.
Enjoy!
JOIN MY FREE TELEGRAM: https://t.me/joinchat/AAAAAE75zGm8U-YZH_OIhw