AUDUSD just broke upwards from a downtrend on the 4H, however the current channel is very narrow and unsustainable.
Price is at a major reversal zone, and we expect heavy resistance to hit soon.
We are looking for an M or Head & Shoulders pattern to form at this zone to enter a short trade towards the TP zone.
Price is at a major reversal zone, and we expect heavy resistance to hit soon.
We are looking for an M or Head & Shoulders pattern to form at this zone to enter a short trade towards the TP zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.