H and S formed. Breakout of neckline was re-tested and was obeyed to become new resistance level. Bearish momentum picking up as we edge closer to the trendline. Blue line is entry, Red is Stop loss and Green is Take Profit. 2.5:1 Risk reward.
AUDUSD formed a head and shoulders. The neckline was broken forming the H and S. The re-test was obeyed and bounced off the neckline confirming resistance. Bearish momentum starting to pick up steam to move to the trend line. Blue line is for entry. Red line for Stop Loss and Green line for Take Profit. 2.5:1 Risk ratio.