Head and shoulder in progress
Good day everyone, i hope you are all well. As per the structure of AUDUSD that i have shared above, we can clearly see that price has reached a very strong level of SUPPORT and we clearly see what happened the last few times prices was on this support and based on that we can expect price to reject the support again and go bullish. To breakdown the setup further we can see that the structure we have here is a "head and shoulder " looking structure and price is currently at the the neckline, now i believe we can all agree on one thing and that is whether price is going long or short( buying or selling ) long-term it MUST buy at this level first till the left high of our "head and shoulder structure.
Now with that being said, this is my opinion and it might be right or it might be wrong so please trade with caution. Thank you.
Now with that being said, this is my opinion and it might be right or it might be wrong so please trade with caution. Thank you.
Note
Good day everyone, I hope you are all well. Please do comment if you'd like me to breakdown AUDUSD further because the setup I recently uploaded is just to give you an idea of the bigger picture or to give you an idea of which trend is currently dominant, basically just a skeleton structure, so just comment if you'd like me to break the setup down to the 30 minute timeframe📌.
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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.