Once the price retest the descending trendline,
a higher up trend will be continuous,
Everything is in the chart
please set ur risk and reward ratio which matches your trading style
You may see a perfect symmetrical triangle in 1H timeframe,
and it created double top below 0.90900,
once it tested the lower trend line , with rejected confirmation
you may enter a short position,
target at blue zone
set an affordable risk-reward ratio
AUDUSD may retest the resistance zone more than once, so you may try to enter an aggressive short position with a tight SL to test the market.
or there is a safely short position when the price has been retested and rejected by the ascending lower trendline.
We can see the price found a support in the blue zone, once it retest and stand above 1.37912
you may find an entry in 1H / 15M ,
Please take TP & SL as reference
set a risk reward ratio which fits your trading plan.
Scenario 1 :
Retest the Blue supporting level , reach to the TP Target
Retest the trendline , successfully stand above the Pink supporting level, reach to the TP Traget
Retest and fail, break the supporting trendline, reach to 4H supporting zone
Plan you trade with good risk reward ratio,
find an entry in 15M with 1H as pattern...