The overall trend of the Aud pairs have been uptrend, so as a trend trader my bias has been to look for buying opportunities on the pair. currently price has been moving in an ascending channel but the formation of an inverted Head and Shoulders pattern on the pair shows that price is likely going to continue on it's upward trend. For an entry trigger price will...
the formation of head and shoulders in an ascending channel seems like a perfect indication for a sell as price has failed to break the current daily support. if price is to break the neckline of the head and shoulder pattern, it's a good confluence as it indicates a change in market structure. a good entry point will be at the retest of the neckline(support...
